Treasury Secretary Bessent Criticizes IMF and World Bank While Discussing Potential Tariff Reductions with China
Treasury Secretary Scott Bessent has criticized the IMF and World Bank as talks on reducing U.S.-China tariffs indicate progress is possible amidst ongoing trade tensions.
The tariff levels outlined in the Wall Street Journal report would likely still be high enough to deter a significant chunk of trade between the world’s two largest economies.
Trump administration reportedly considers China tariff cuts
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Bessent’s speech in Washington represented a broadside against the IMF and the World Bank, which provide loans and other financial support around the world.
Bessent assails IMF and World Bank and says there’s an ‘opportunity for a big deal’ with China
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The United States will support changes to the International Monetary Fund (IMF) and the World Bank to secure economic and financial sustainability.
US Seeks IMF, World Bank Reforms to Reverse Institutions’ Mission Creep: Bessent
Epoch Times·17h·Mixed ReliableThis source has a mixed track record—sometimes accurate but also prone to bias, sensationalism, or incomplete reporting.RightThis outlet favors right-wing views.Bessent’s speech in Washington represented a broadside against the IMF and the World Bank, which provide loans and other financial support around the world.
Bessent assails IMF and World Bank and says there's an 'opportunity for a big deal' with China
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The U.S. stock market surged Wednesday on assurances from Trump that he has no intention to fire Federal Reserve chairman Jerome Powell and as his administration has signaled hopes to de-escalate tensions with China.
President Trump says he wants 'fair deal' with China as he softens tone on tariffs
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Beijing's export-reliant economic model is "unsustainable" and harms both China and the rest of the world, Bessent added.
Treasury chief Bessent says U.S. has an "an opportunity for a big deal" with China
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In recent weeks, financial markets have plunged over fears of a global trade war after Trump revealed aggressive tariff plans on some of the world’s biggest economic powers.
Trump hints at cutting China tariffs ‘substantially’ from 145%
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Right off the bat, it’s worth emphasizing that Trump’s erratic approach to tariffs is a sight to behold.
On China, Trump hedges and says his trade tariffs will ‘come down substantially’
MSNBC·21h·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.LeftThis outlet favors left-wing views.The tariff levels outlined in the Journal report would likely still be high enough to deter a significant chunk of trade between the world's two largest economies.
Trump: Will Have Fair Trade Deal With China
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The uncertainty over tariffs in the financial markets has also been amplified by Trump calling on the Federal Reserve to cut its benchmark interest rate, with the president saying he could fire Fed chair Jerome Powell if he wanted to do so.
Trump says China tariffs will drop ‘substantially – but it won’t be zero’
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My guess is that we're going to grow under 1 percent this year if this type of uncertainty persists, both in terms of market behavior and ultimately in terms of businesses' inability to plan around the tariffs, whatever they might be.
Economic forecasts show Trump's tariffs having major global impact
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Donald Trump's trade war with China may well end before it could ever really get started.
"It won't be that high": Trump, Bessent hint at walking back China tariffs
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Global markets have tumbled in the wake of Trump's latest tariffs earlier this month, while fears are rising that foreign investors may be cutting their exposure to the U.S. and no longer considering the world's biggest economy the safe haven it has been for decades.
The global economy will be hit hard by Trump's tariffs, IMF warns
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The International Monetary Fund is not the only major financial institution warning that the Trump tariff regime will have serious consequences for the international and local economies.
Trump's Tariffs Lead to Layoffs as IMF Warns of 'Shock' To Economy
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Summary
In a recent speech, Treasury Secretary Scott Bessent criticized the IMF and World Bank's operations while emphasizing the importance of U.S. leadership. Amid ongoing trade tensions with China, he mentioned potential de-escalation discussions, with speculation that tariffs could be substantially cut. President Trump described expectations for a 'fair deal' with China as tariff discussions continue to unfold, amidst assurances that U.S. economic leadership would persist. Despite the previously high 145% tariffs on Chinese imports, hopes for negotiation persist. The IMF also revised growth forecasts downward due to ongoing trade conflicts, reiterating concerns over global economic stability.
Perspectives
The IMF warns that Trump's tariffs are leading to increased global financial uncertainty and a significant decrease in economic growth forecasts, projecting global growth to hit just 2.8% in 2025.
The surge in tariffs, combined with policy unpredictability, is expected to slow growth across various countries, including the U.S., which is now forecasted to grow only 1.8% in the coming year.
Global trade faces disruptions as countries retaliate against U.S. tariffs, raising concerns among investors about stability and international trade relationships.
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