Treasury Secretary Scott Bessent on Wednesday called for major overhauls to the missions of the International Monetary Fund and the World Bank but said that the United States remained committed to maintaining its leadership role at the global economic institutions.
The comments, made at a speech on the sidelines of the spring meetings of the I.M.F. and the World Bank, come at a moment of concern among policymakers that the Trump administration could withdraw the United States entirely from the fund and the bank.
The United States has upended the global trading system in recent months and the views of the Trump administration on climate change, international development and economic equity are often at odds with those of the other nations that are shareholders in the global institutions.The speech came a day after the I.M.F. downgraded its outlook for growth globally and in the United States as a result of President Trump’s punishing tariffs. Trade tension between the United States and China, the world’s largest economies, threaten to weigh on output this year and next.
In his remarks, Mr. Bessent defended the Trump administration’s trade actions and called for China to curb economic practices that he said were destabilizing international commerce. He noted that the United States was actively engaged in trade talks with dozens of countries and expressed optimism that these negotiations would help rebalance the world economy and make the global trading system more fair.
It remains unclear when, or if, the United States and China will begin to engage in talks. Mr. Trump has said he expects to speak with Xi Jinping, China’s leader, but no formal conversations have been scheduled.
Guo Jiakun, a spokesman for China’s foreign ministry, said overnight that “if the U.S. truly wants to resolve issues through dialogue and negotiation, it should stop threatening and coercing, and engage in dialogue with China on the basis of equality, respect and mutual benefit.”
