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.

Treasury Secretary Scott Bessent has played a balancing act trying to reassure nervous investors that the U.S. would maintain its global leadership role while staying true to the Trump administration’s skepticism of multilateral banking organizations.

The International Monetary Fund on Tuesday slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs now at 100-year highs and warning that rising trade tensions would further slow growth.

The U.S. economy will experience sluggish growth in 2025 due to an escalating trade war and "high levels of policy uncertainty," the International Monetary Fund said in a report Tuesday. The projections reinforce economists' warnings about the negative repercussions of President Trump's tariffs on the economy.

The outlook for the U.S. and global economies this year and next has significantly worsened in the wake of President Donald Trump’s tariffs and the uncertainty they have created