Treasury Secretary Scott Bessent advocated for significant reforms to the IMF and World Bank's missions while affirming continued US leadership. His comments, delivered during the IMF/World Bank spring meetings, follow concerns about a potential US withdrawal under the Trump administration. Bessent defended the administration's trade actions, criticizing China's economic practices, and expressed optimism about ongoing trade negotiations aimed at a fairer global economy. The IMF recently downgraded global and US growth forecasts due to US tariffs, highlighting escalating trade tensions.

Prepared by Christopher Adams and reviewed by editorial team.