Global Economy News
LAST UPDATE: September 23, 2025
Trump Heads to Annual UN Meeting Facing Billions in Unpaid Dues
As he prepares to address the UN General Assembly, President Trump faces billions in unpaid dues to the United Nations. The U.S. has all but stopped paying its bills to the UN since Trump took office, and still has outstanding arrears from 2024. Trump is expected to use his address to celebrate his foreign policy successes.
Insight
This financial standoff highlights the tension between the Trump administration’s “America First” agenda and the principles of multilateralism upheld by the UN. The unpaid dues are a tangible expression of the administration’s skepticism toward global institutions and its preference for bilateral relations over international cooperation.
Trump to slam ‘globalist institutions’ in UN speech: White House
U.S. President Donald Trump is expected to use his address to the UN General Assembly to criticize “globalist institutions” and Western allies. The White House has framed his speech as a bold “America First” reset of foreign policy. He is expected to condemn Western allies for recognizing a Palestinian state and will also rail against the UN itself.
Insight
This preview of Trump’s speech confirms his administration’s continued pivot away from traditional alliances and multilateralism. The focus on “America First” and the direct criticism of global institutions and allies signals a potentially confrontational approach to foreign policy, which could deepen the rifts between the U.S. and its partners.
IEA feels the heat as Washington pushes pro-oil agenda
The International Energy Agency (IEA) is facing pressure from the Trump administration, which is pushing a pro-oil agenda. The U.S., a major contributor to the IEA, has threatened to withdraw from the organization unless internal changes are made. This pressure stems from the IEA’s reports that predict a decline in fossil fuel demand.
Insight
This conflict between the IEA and the U.S. highlights a fundamental disagreement over the future of global energy policy. The Trump administration’s pro-oil stance is at odds with the IEA’s analysis, which emphasizes a transition to cleaner energy. This pressure on the IEA could undermine its authority and influence in shaping the global energy transition.
UN climate leader urges action to match promises at Climate Week NYC
A UN climate official urged world leaders at Climate Week NYC to turn their climate promises into concrete actions. Speakers at the event emphasized that the global energy transition is happening but is uneven. The plea comes ahead of the UN’s climate summit, COP30, and amidst recent cutbacks in climate aid from wealthy nations.
Insight
This call to action reflects a growing concern that political rhetoric on climate change is not being matched by sufficient and swift implementation. The message is a direct challenge to world leaders to move beyond pledges and demonstrate tangible progress, especially as climate disasters become more frequent and severe.
US excluded from democracy meeting hosted by Brazil, Chile, Spain at UN, sources say
The United States was not invited to a meeting on global democracy hosted by Brazil, Chile, and Spain on the sidelines of the UN General Assembly. Sources involved in the event said the exclusion was due to President Trump’s questioning of democratic institutions in Brazil and his imposition of tariffs and sanctions. This marks a shift from the previous year when the US was invited under the Biden administration.
Insight
The exclusion of the US from this meeting is a powerful symbol of its diminished standing on the global stage regarding democracy. It signals that some key democratic allies are wary of the U.S. under the current administration and are willing to create a forum without it, which could lead to a fragmentation of democratic alliances.
