Trump live updates: Just 37% of Americans approve of president’s handling of the economy, new poll shows

President Donald Trump was spotted exiting the White House just now and shouted to reporters he was there to determine where new flagpoles might be added to the North Lawn.

Keen-eyed White House observers will note that there is already a large flag on top of the building.

Gustaf Kilander reports from Washington, D.C.

“I invite our allies to work with us as we rebalance the international financial system, refocus the IMF and World Bank on their founding charters. America first means we are doubling down on our engagement with the international economic system, including at the IMF and the World Bank. A more sustainable economic system will be one that better serves the interests of the United States and all the other participants in the system. We look forward to working with all of you in this endeavor.”

Bessent says of Ukraine reconstruction: “No one who financed or supplied the Russian war machine will be eligible for funds earmarked for Ukraine’s reconstruction. No one.”

“Treating China, the second-largest country in the world, as a developing country is absurd. While it has been at the expense of many Western markets, China’s rise has been rapid and impressive. If China wants to play a role in the global economy commensurate with its actual importance, then the country needs to graduate up, we welcome that.”

Bessent continues by saying that the World Bank and IMF “must step back from their sprawling and unfocused agendas, which have stifled their ability to deliver on their core mandates.”

He adds that the IMF has “suffered from mission creep” and is too focused on “climate change, gender and social issues.”

“The IMF mission is to promote international monetary cooperation, facilitate the balanced growth of international trade, encourage economic growth, and discourage harmful policies like competitive exchange rate depreciation; these are crucially important functions to support the US and global economies. Instead, the IMF has suffered from mission creep. The IMF was once unwavering in its mission of promoting global monetary cooperation and financial stability. Now it devotes disproportionate time and resources to work on climate change, gender, and social issues. These issues are not the IMF mission and the IMF focus in these areas is crowding out its work on critical macroeconomic issues. The IMF must be a brutal truth teller, and not just to some members.”

Bessent says the Trump administration “will not abide” criticism from the IMF if the IMF doesn’t also criticize “the countries that most need it, principally surplus countries, in line with its core mandate.”

He adds: “The IMF needs to call out countries like China that have pursued globally distorted policies and opaque currency practices for many decades. I also expect the IMF to call out unsustainable lending practices by certain creditor countries.”

“I believe global economic relationships should come to reflect security partnerships. Security partners are more likely to have compatible economies structured for mutually beneficial trade. If the United States continues offering security guarantees and open markets, then our allies must step up with stronger commitments to shared defense. The initial actions from Europe on increased fiscal and defense spending are proof that the Trump administration’s policies are indeed working.”