Scott Bessent, the Secretary of the Treasury, presented a dynamic and riveting keynote address this morning. His remarks at the Institute of International Finance (IIF) annual conference in Washington, D.C. His speech was scheduled for 10 a.m. ET. We expect him to work to restore balance in the global financial system as trade negotiations go on.
Immediately following his keynote, Bessent will join in conversation with Tim Adams to deepen the discussion. Tim is the CEO of IIF and he used to work as under secretary of international affairs for the Treasury Department. We hope this webinar will help us explore in more depth what Bessent’s remarks and today’s economic realities mean for our work.
Bessent was one of the featured speakers at Reinvestment Fund’s first ever private investor summit, held recently in Washington, DC. He offered encouragement that tariff rates would be de-escalated soon. He noted that “no one thinks the current status quo is sustainable,” emphasizing the urgent need for reform in trade practices. His remarks come as the Trump administration is contemplating reducing steep tariffs imposed on China as part of ongoing trade negotiations.
“China has to be different,” Bessent said at the closed-door meeting with investors on Tuesday. “The country knows it needs to change. Everyone knows it needs to change. And we genuinely want to see it change—because we need rebalancing as well. His insights reflect a growing recognition among U.S. officials that modifications to tariff structures are essential for future economic stability.
The IIF conference is an increasingly important venue for addressing the most urgent priorities facing the global financial system. Bessent’s position underscores the administration’s commitment to listening to and learning from international finance leaders. Certainly his comments are bound to influence domestic and international perspectives on the markets. As debates over tariffs and our nation’s trade relationships continue, their force will increase.