Treasury Secretary Scott Bessent said the institutions “serve critical roles in the international system. And the Trump administration is eager to work with them — so long as they can stay true to their missions.

WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and he expects a “de-escalation” in the trade war between the world’s two largest economies.

Treasury Secretary Scott Bessent spoke Wednesday to international economists attending IMF and World Bank spring meetings in Washington D.C. this week, telling them the Trump administration wants to overhaul these institutions to create a more "sustainable international economic system.