Washington, D.C

Trump’s reignited trade war with China clouds IMF, World Bank meetings

Published

6 months ago

October 13, 2025

Trump’s reignited trade war with China clouds IMF, World Bank meetings

WASHINGTON, Oct 13 (Reuters) – Finance chiefs gathering in Washington this week were ready to discuss the global economy’s surprising resilience in the face of Donald Trump’s tariff assaults – until the U.S.-China trade war erupted again with the U.S. president threatening 100% duties on Chinese imports and sending markets into a tailspin.

The annual meetings of the International Monetary Fund and World Bank are now certain to be dominated by questions over whether Trump’s vow to retaliate against China’s dramatically expanded export controls on rare earths will plunge the world’s two largest economies back into a full-blown trade war.

A delicate truce crafted by Washington and Beijing over the past five months brought tariffs down from triple-digit levels and prompted upgrades to the IMF’s global growth outlook. Plans for Trump to meet with Chinese President Xi Jinping later this month fueled hopes for a further thaw.

But that optimism was shattered on Friday as Trump threatened to cancel the meeting and impose a “massive increase” in tariffs on Chinese goods, along with other countermeasures.

Souring the mood further was China’s move on Friday to match new U.S. port fees for Chinese-built or owned vessels with its own levies on port calls by ships built or flagged in the U.S. or owned by companies more than 25% owned by U.S.-domiciled investment funds.

The IMF and World Bank meetings will bring more than 10,000 people to Washington, including finance ministers and central bank governors from more than 190 countries.

Martin Muehleisen, a former IMF strategy chief who is now with the Atlantic Council, said Trump’s threats may be posturing for negotiating leverage, but said they will inject volatility into the week’s proceedings.

“Let’s hope that sanity prevails. If Trump goes back to 100% tariffs on Chinese goods, there’s going to be a lot of pain in the markets for him,” Muehleisen said.

Trump’s threat on Friday triggered the biggest U.S. stock sell-off in months at a time when investors and top policymakers were already growing anxious about a frothy stock market fueled by an investment boom in artificial intelligence that some officials fear could hurt future employment.

While China has some leverage over Trump due to its global dominance in rare earths, which are essential for tech manufacturing, Muehleisen said it is not in Beijing’s interest to plunge back into an environment of triple-digit tariffs.

It is unclear whether U.S. Treasury Secretary Scott Bessent, who has led U.S.-China trade talks, would meet with any Chinese officials this week in Washington. A Treasury spokesperson declined to comment on Bessent’s bilateral meetings schedule.

GROWTH FORECASTS HOLD UP

Prior to the escalation on Friday’s, IMF Managing Director Kristalina Georgieva had touted the global economy’s ability to withstand multiple shocks, from tariff costs and uncertainty to a slowing U.S. job market, rising debt levels and rapid shifts brought on by AI’s rapid adoption.

In a preview of the IMF’s World Economic Outlook forecasts due on Tuesday, Georgieva said last week that the global GDP growth rate for 2025 would be only slightly less than the 3.3% for 2024. Based on tariff rates that were lower than initially feared – including the U.S.-China duties – the IMF in July raised its 2025 GDP growth forecast by two-tenths of a percentage point to 3.0%.

“What we are seeing is demonstrable resilience in the world,” Georgieva told Reuters in an interview. “But we are also saying it is a time of exceptional uncertainty, and downside risks are still dominating the forecast. So watch it, don’t get too comfortable.”

G7 FOCUS ON RUSSIA

Finance ministers from the Group of Seven industrial democracies are expected to meet on Wednesday to discuss efforts to step up sanctions pressure on Russia that is aimed at ending Moscow’s war against Ukraine.

A British government source said that finance minister Rachel Reeves wanted to ensure joint action with G7 and European Union countries to cut Russia’s energy revenues and access to overseas assets that comply with international law.

Among these options that G7 ministers will discuss is a European Union plan to use Russian frozen sovereign assets to back a loan of 140 billion euros ($162 billion) to Ukraine.

BESSENT’S AGENDA FOR INSTITUTIONS

The U.S. footprint at the meetings will be large, extending from tariff discussions to Bessent’s calls for the IMF and World Bank to pull back from climate and gender issues to focus on their core missions of financial stability and development.

The meetings will be the public debut for Dan Katz, the IMF’s new No. 2 official. Member countries will be watching to see how Katz, a former investment banker who was Bessent’s chief of staff, carries out the U.S. Treasury chief’s agenda, which also calls for stronger IMF criticism of China’s state-led economic policies.

The U.S. Treasury’s market intervention on behalf of Argentina, the IMF’s largest borrower, also will take center stage at the meetings as Argentina’s right-wing libertarian President Javier Milei will join his ally Trump two blocks away at the White House on Tuesday. The move was welcomed by Georgieva to keep Argentina’s market-based reforms on track.

But Muehleisen, the former IMF official, said the Fund risks being pushed by its largest shareholder to enforce Trump’s geopolitical goals – ratcheting up pressure on China and potentially extending more aid to U.S. allies like Argentina without adequate reforms.

“Is it really still a global, multilateral organization, or is it becoming a bit more of an appendage of the U.S. Treasury?” he said. “This will be an interesting debate.”

Reporting by David Lawder; Additional reporting by Andrea Shalal and David Milliken; Editing by Dan Burns and Paul Simao

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Washington, D.C

‘Strong smell’ shuts down flights at major DC-area airports for the second time this month

Published

2 hours ago

March 27, 2026

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‘Strong smell’ shuts down flights at major DC-area airports for the second time this month

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A reported “strong smell” at a key air traffic control center disrupted flights Friday evening at major airports across the Washington, D.C., region for the second time in two weeks.

The Federal Aviation Administration (FAA) temporarily halted flights at Ronald Reagan Washington National Airport (DCA), Washington Dulles International Airport (IAD), Baltimore/Washington International Airport (BWI), Charlottesville–Albemarle Airport (CHO) and Richmond International Airport (RIC), the agency told FOX Business in an email.

The FAA said the disruptions were due to a “strong smell” at the Potomac Terminal Radar Approach Control (TRACON) center, which manages airspace in the region.

GROUND STOP LIFTED AT MAJOR DC-AREA AIRPORTS AFTER CHEMICAL ODOR DISRUPTS AIR TRAFFIC CONTROL

An FAA air traffic control tower at Ronald Reagan Washington National Airport in Arlington, Va. (Samuel Corum/Bloomberg via Getty Images / Getty Images)

It was not immediately clear what caused the smell.

Ground stops at Dulles, Reagan National and BWI remained in effect until around 8 p.m. ET before being lifted, according to the FAA’s website.

NEWARK AIR TRAFFIC CONTROLLERS LOST RADAR, RADIO COMMUNICATIONS WITH PLANES FOR OVER A MINUTE, SPARKING CHAOS

The FAA said the disruption was due to a “strong smell” at the Potomac Terminal Radar Approach Control (TRACON) center. (Flightradar24)

As of 8:30 p.m., Reagan National was experiencing ground delays, while BWI continued to see departure delays.

Earlier this month, a ground stop was similarly issued at several airports in the Washington, D.C., region after a chemical odor was detected at the TRACON center.

FATAL LAGUARDIA COLLISION RENEWS FOCUS ON RUNWAY INCURSION RISKS ACROSS US

Transportation Secretary Sean P. Duffy speaks at a news conference at Ronald Reagan Washington National Airport. (Heather Diehl/Getty Images / Getty Images)

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The temporary ground stop March 13 similarly affected DCA, IAD, BWI and RIC, Transportation Secretary Sean Duffy said at the time.

Duffy said the smell came from an overheated circuit board, which has since been replaced.

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Washington, D.C

50 years of DC Metro: A look back in photos

Published

14 hours ago

March 27, 2026

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50 years of DC Metro: A look back in photos

One family, four generations with DC Metro

As Metro celebrates 50 years of service, one D.C. family is marking the milestone with a legacy of their own — four generations who have all worked on the system, helping keep the region moving for decades.

WASHINGTON – D.C. residents got on their first Metro train 50 years ago on March 27, 1976. Here’s a look back at the beginning.

Connecticut Avenue; NW; looking south. evening traffic-jams are aggravated by metro subway construction in Washington D.C. ca. 1973 (Photo by: HUM Images/Universal Images Group via Getty Images)

View of the Metro Center subway station (at 13th and G Streets NW) during its construction, Washington DC, November 16, 1973. (Photo by Warren K Leffler/PhotoQuest/Getty Images)

Standing in the cavernous tunnel, planners wearing hard hats discuss the construction progress of the Metro Center subway station at the intersection of 13th and G Streets in Washington, DC, November 16, 1973. (Photo by Leffler/Library of Congress/In

WASHINGTON, DC – NOVEMBER 07: FILE, Metro construction miners and blasters on a jumbo drill outside the hole they are working on at Rock Creek Parkway and Cathedral Ave NW in Washington, DC on November 7, 1973. (Photo by James K.W Atherton/The Washin

WASHINGTON, DC – MARCH 4: FILE, View of the Post Office at North Capital and Mass Avenue NE, and 1st NE where subway tunnels were being constructed in Washington, DC on March 4, 1974. (Photo by Joe Heiberger/The Washington Post via Getty Images)

WASHINGTON, DC – AUGUST 29: FILE, Workers rig a pipe at the entrance to the Rosslyn Metro Station in Washington DC on August 29, 1974 (Photo by Larry Morris/The Washington Post via Getty Images)

WASHINGTON, DC – MARCH 27: FILE, The crowd at Rhode Island Station on opening day of the Washington Metro on March 27, 1976. (Photo by James A. Parcell/The Washington Post via Getty Images)

WASHINGTON, DC – MARCH 28: FILE, Reverend Leslie E. Smith of the Episcopal Church, right, and George Docherty of New York Avenue Presbyterian church hold a joint service at the new Metro Center station in Washington, DC on March 28, 1976. (Photo by D

WASHINGTON, DC – JULY 1: FILE, An aerial view of metro construction where it crosses the Washington Channel. The Potomac River, the Pentagon and Northern Virginia can be seen in the distance. (Photo by Ken Feil/The Washington Post via Getty Images)

WASHINGTON, DC – JANUARY 27: FILE, A packed train of commuters on the Silver Spring metro on the Red Line on January 27, 1987. (Photo by Dudley M. Brooks/The Washington Post via Getty Images)

WASHINGTON, DC – JULY 4: FILE, Thousands of people press their way into the Smithsonian Subway station after the Independence Day fireworks in Washington, DC on July 4, 1979. (Photo by Lucian Perkins/The Washington Post via Getty Images)

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Washington, D.C

Pop-up museum in DC features the scandal that changed American history – WTOP News

Published

1 day ago

March 26, 2026

Press Room

Pop-up museum in DC features the scandal that changed American history – WTOP News

Among the liquor store, barber shop and dry cleaners at the Watergate Complex’s retail plaza, there is a new pop-up museum dedicated to the scene of the crime that toppled Richard Nixon’s presidency.

The temporary exhibit features the work of artist Laurie Munn — portraits of members of the Nixon administration and those connected to the Watergate break-in. The exhibit features members of Congress, the media and some who were on President Nixon’s enemies list.(WTOP/Jimmy Alexander)

Keith Krom, chair of the Board of Directors of the Watergate Museum, told WTOP the exhibit was first featured in the gallery in 2012 for the 40th anniversary of the break-in at the Democratic National Committee.

“When she (Munn) learned about our museum effort, she offered to reassemble them as a way for us to expand awareness of the museum,” Krom said.

Krom, who lives in the Watergate, said his favorite portrait is of one of the special prosecutors, whose firing sparked the “Saturday Night Massacre” in 1973.

“I had the pleasure of being a student of Archibald Cox,” Krom said. “He served as my mentor for my third-year writing project.”

Krom said during this time, at the Boston University School of Law, he spent a great deal of time with him.

“I didn’t realize how much he must have gone through. Here he was, this one man, who was challenging the president of the United States over something pretty serious,” Krom said.

The pop-up opened in October and was recently extended to stay open until April 25. Krom said the hope is to find it a permanent location within the Watergate Complex, where they can “present the history of Watergate, but with two perspectives.”

The first would be on the building’s “architectural significance to D.C.,” he said.

“You may not like the design, you actually may hate it,” Krom said. “But you cannot deny that it changed D.C.’s skyline.”

The secondary focus would, of course, be on the mother of all presidential scandals that changed the course of American history.

“That’s where that suffix ‘-gate’ started and continues to be used for almost every scandal that comes out today,” Krom said.

The inspiration for the museum spawned from an interaction from a tourist outside the Watergate.

“He says, ‘This is the Watergate, right?’ And I was like, ‘Yeah, it’s one of the buildings,’” Krom recalled.

The tourist then asked Krom, “So where’s the museum?”

“I was like, ‘Oh, we don’t have a museum.’ And he literally just looked at me and said, ‘That’s so sad.’ And he got on his bike and rode away,” Krom said.

While the self-proclaimed political history nerd said he “still gets goose bumps” when he drives by the Capitol at night, Krom hopes that when people leave the museum, “they’ll walk away with a new appreciation for how our government works, the guardrails that are in place.”

“Maybe an understanding that those guardrails themselves are kind of frail, and they probably need our collective help in making sure they last — that’s what we hope to accomplish,” Krom said.

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