U.S. Treasury Secretary Scott Bessent said on Wednesday he will skip next week's meeting of finance ministers and central bank governors from the Group of 20 major economies in Cape Town, South Africa.

U.S. Secretary of State Marco Rubio will skip a meeting of foreign ministers from the leading rich and developing nations, known as the Group of 20, that starts on Thursday

The Treasury secretary is the second top U.S. official not to attend the Group of 20 gatherings because of rising tension with South Africa over its land policies.