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U.S. Urges IMF Reforms Amid Rising Trade Tensions

4/23/2025

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Summary

Story summary

Treasury Secretary Scott Bessent urged reforms in the IMF and World Bank to maintain U.S. leadership.
He emphasized the necessity for mutual de-escalation in U.S.-China trade tensions, deeming current tariffs unsustainable.
China and the EU showed hesitance to negotiate under U.S. pressure.
Bessent noted over 100 countries approached the U.S. about trade imbalances, citing unfair practices as a cause.

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Story summary

Treasury Secretary Scott Bessent urged reforms in the IMF and World Bank to maintain U.S. leadership.
He emphasized the necessity for mutual de-escalation in U.S.-China trade tensions, deeming current tariffs unsustainable.
China and the EU showed hesitance to negotiate under U.S. pressure.
Bessent noted over 100 countries approached the U.S. about trade imbalances, citing unfair practices as a cause.