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6d ago

IMF-World Bank Meetings Shift Focus to U.S. Tariff Negotiations

Talks led by U.S. Treasury Secretary Scott Bessent dominate as nations push for relief from President Trump's 25% import taxes, while global growth forecasts are revised downward.

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A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo
A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo

Overview

  • The 2025 IMF-World Bank Spring Meetings are centered on trade negotiations, with countries like Japan and South Korea seeking relief from steep U.S. import tariffs imposed by President Trump.
  • U.S. Treasury Secretary Scott Bessent, leading the tariff talks, faces scrutiny over the Trump administration's uncertain commitment to multilateral financial institutions like the IMF and World Bank.
  • IMF Managing Director Kristalina Georgieva confirmed that the upcoming World Economic Outlook will reflect significant growth markdowns due to market volatility caused by trade tensions.
  • Japan is advancing discussions with Bessent to address 25% tariffs on autos and steel, while South Korea explores delaying tariff implementation and enhancing cooperation on energy and shipbuilding.
  • The Trump administration's Project 2025 initiative raises concerns about U.S. withdrawal from global financial institutions, despite recent U.S. backing for a $20 billion IMF loan program in Argentina.