U.S. Pushes to Weaken Global Finance Reform Deal, Opposes Climate and Social Protections

The United States is working to dilute a major United Nations-led agreement aimed at overhauling the global financial system to support developing countries. According to a leaked draft seen by Reuters, the U.S. under the Trump administration is pushing to remove language around climate change, gender equality, sustainability, fossil fuel subsidy reform, and tax fairness from the draft agreement for the upcoming 4th International Conference on Financing for Development (FFD4) in Seville this June.

The U.S. has rejected systemic reform language, instead favoring vague commitments over concrete pledges. It also objects to solidarity levies such as taxing polluters or the ultra-wealthy, and is against reforms that would make credit-rating systems more favorable to poorer nations investing in green energy.

Critics say the move reflects an “America First” agenda that undermines global cooperation on urgent challenges like climate resilience and poverty reduction. The U.S. has already cut foreign aid, exited the Paris Agreement, and is influencing institutions like the World Bank and IMF, where it remains the largest shareholder.

Source: Swifteradio.com