On 1 September 2026, German Finance Minister Lars Klingbeil addressed the G20 finance ministers and central bank governors meeting in Asheville, North Carolina, stating that geopolitical uncertainty hampers economic growth. He identified three primary sources of instability: the ongoing war in Iran, tariff disputes with the United States, and competition distortions originating from China. Klingbeil warned that these conflicts diminish global prosperity and specifically threaten Germany’s domestic industry, economy, and employment. He reaffirmed Germany’s commitment to a rules‑based international order, emphasizing support for international law, multilateralism, and the principle that the world should be governed by law rather than by the strong. The minister called on all G20 members to work collectively to reduce such geopolitical uncertainty.