Speaking before the Institute of International Finance, Treasury Secretary Scott Bessent leveled criticism of the World Bank and International Monetary Fund, urging them to go "back to basics" in their focus as financial institutions, but also offered support, stressing the United States' desire to continue its leadership role.

Gary Cohn, who served as director of the National Economic Council under President Trump, said the effects of tariffs will start to be felt nationwide by late next month, warning that lower-income Americans will “end up paying a disproportionate percentage of the tariffs,” reported CNN.

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.