US Treasury secretary Scott Bessent has cautioned that any de-escalation in the US-China trade war would have to be mutual, denying suggestions that President Donald Trump would unilaterally cut levies on Chinese goods.

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

Treasury Secretary Scott Bessent has assailed the International Monetary Fund and the World Bank even as he tries to reassure nervous investors the United States will maintain its global leadership ro