Treasury Secretary Bessent Advocates Deeper Trade Partnerships

Treasury Secretary Scott Bessent emphasized that the 'America First' policy under the Trump administration is not about isolationism but rather seeks deeper collaboration and mutual respect among trade partners. Speaking at international finance forums, Bessent highlighted the administration’s intention to expand U.S. leadership and engagement with institutions like the IMF and World Bank, calling for these organizations to refocus on their original mandates. He addressed concerns over persistent U.S. trade deficits, attributing them to unfair foreign policy choices that have harmed American manufacturing and supply chains. Bessent also called for China to rebalance its economy away from export-driven growth towards greater domestic consumption. The overarching message was a commitment to restoring fairness in global trade while strengthening alliances and international economic institutions.