It was a pleasure to meet again with European Commission leaders Paolo Gentiloni and Mairead McGuinness. We furthered conversations on global financial stability, economic partnerships, international tax, and ongoing work to provide financial support for Ukraine.

The IMF WorldBank Spring Meetings offered key opportunities to coordinate with allies and partners on pressing global challenges. The U.S. remains committed to advancing global security, mitigating threats from climate change and poverty, and promoting economic resilience.

In response to Russia’s unprovoked attack against Ukraine, we have deprived Russia of revenue and access to vital military resources. Our Russian oil price cap has lowered Putin's revenues by about 40%, and Russia is struggling to replace equipment lost on the battlefield.

As I told Fareed Zakaria, I believe there's a path to bring down inflation while maintaining a strong labor market.

The U.S. is the largest and most dynamic economy in the world and we remain firm in our conviction to defend our values and national security. Within that context, we seek a constructive and fair economic relationship with China.

Second, we seek a healthy economic relationship with China: one that fosters growth and innovation in both countries. A growing China that plays by international rules is good for the United States and the world.

Our economic approach to China has three principal objectives. First, we will secure our national security interests and those of our allies and partners, and we will protect human rights.

Third, we seek cooperation on the urgent global challenges of our day. Both China and the U.S. have agreed to enhance communication and cooperation on issues like climate and debt distress, but more must be done. China must promise to work with us on these issues.

Honored to speak to 400 Sacramento business and community leaders at the 51st annual “Cap-to-Cap” program about the Biden Administration’s efforts to grow our economy and how the Infrastructure Law, CHIPS Act, and Inflation Reduction Act are creating jobs and lowering costs.

As I said this morning, President Biden has presented a detailed budget that does cut deficits by $3 trillion over ten years while investing in the strength of the American economy. But we do need to raise the debt ceiling to avoid economic calamity.

As every Treasury secretary has known, the only option that leaves our economy in good shape is raising the debt ceiling. Congress must stand behind the basic principle that America pays its bills and that we're not a deadbeat country.

I have arrived in Japan for the G7 Finance and Central Bank Governors Meeting. I look forward to this opportunity to meet with our G7 counterparts with the common goal of strengthening the global economy and supporting Ukraine’s brave resistance to Russia’s illegal war.

While I’m in Japan, I will also reaffirm the resilience of the U.S. economy aided by the historic investments made by the Biden Administration.

I will also continue coordination with G7 partners on shared priorities and continue efforts to strengthen the global financial system during engagements.

Lastly, I will underscore the importance of Congress acting to resolve the debt limit to maintain America’s economic leadership and protect the global economy.

It was a pleasure to meet with Brazil’s Minister of Finance Fernando Haddad today. We share a common bond as representatives from the two largest democracies in the Americas and we are excited to have you joining the G7 at these meetings.

We look forward to your leadership at next year’s G20 in addressing common goals like combatting climate change, building high-quality infrastructure, mobilizing private capital for development, & supporting countries combat poverty through strengthened multilateral institutions.

It was great to meet with Indonesia’s Minister of Finance Sri Mulyani today as the G7 consults with leaders from the G20. We discussed addressing debt issues, evolving multilateral development banks, and achieving the promise of Indonesia’s Just Energy Transition Partnership.

If Congress does not raise the debt ceiling, we face economic and financial catastrophe. It is vitally important that we make sure it gets done.

I was pleased to meet with President of the European Commission Ursula von der Leyen.  We discussed our views on multilateral development bank evolution, the importance of sustained collective economic assistance to Ukraine, and other shared priorities and issues.