The International Monetary Fund warned that Donald Trump's tariffs could lead to an economic downturn. The trade war is already costing American jobs.

Trump’s tariffs are forecast to slow the global economy sharply this year, the International Monetary Fund said.

The International Monetary Fund says the US and global economies will likely slow significantly in the wake of President Donald Trump’s tariffs and the uncertainty they have created.

Treasury Secretary Scott Bessent said the U.S. remains committed to playing a leadership role in the IMF and World Bank but wants to see changes.

Bessent also told reporters that no decision has been made on whether to proceed with a $4 billion pledge to the World Bank's fund for the poorest countries made last year by former president Joe Biden.

United States Treasury Secretary Scott Bessent on Wednesday said the heads of the Bretton Woods institutions need to earn the confidence of the Trump administration. The International Monetary Fund, IMF,