Bessent's Bold Stand: US Leadership in Global Finance

Treasury Secretary Scott Bessent critiques the World Bank and IMF, emphasizing the need for deeper US collaboration in global finance. Urging mutual respect among trade partners, Bessent supports the institutions despite Trump's tariff strategies. He highlights opportunities for US-China economic rebalancing amid existing tensions.

In a critical address, Treasury Secretary Scott Bessent took aim at the operations of the World Bank and International Monetary Fund, highlighting their shortcomings while reassuring investors of America's global leadership role.

Bessent announced support for multilateral banks' missions, advocating for collaboration and respect among trade partners despite current tariffs. His stance echoes the Trump administration's call for institutional reform, amid trade tensions with China.

While Bessent emphasized the importance of US involvement, he critiqued China's favorable treatment as a developing nation, urging a balanced economic partnership. This reflects broader efforts to recalibrate US-China trade dynamics.

(With inputs from agencies.)