WASHINGTON, DC - APRIL 15: Noah Horowitz (CEO - Art Basel), Patrice Louvet (President & CEO - Ralph Lauren) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: Mirabella Brokate El Baze (Global Head of Brand and Marketing - Semafor) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: Mirabella Brokate El Baze (Global Head of Brand and Marketing - Semafor) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

German Vice Chancellor and Federal Minister of Finance Lars Klingbeil is seen as he visits Freedom Plaza in Washington, DC, on April 15, 2026. (Photo by Mandel NGAN / AFP via Getty Images)

(L/R) German Vice Chancellor and Federal Minister of Finance Lars Klingbeil and German Federal Minister for Economic Cooperation and Development Reem Alabali Radovan walk through Freedom Plaza in Washington, DC, on April 15, 2026. (Photo by Mandel NGAN / AFP via Getty Images)

German Federal Minister for Economic Cooperation and Development Reem Alabali Radovan walks through Freedom Plaza in Washington, DC, on April 15, 2026. (Photo by Mandel NGAN / AFP via Getty Images)

Rodrigo Valdes, Director of the IMF Fiscal Affairs Department, speaks during a Fiscal Monitor press briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 15, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

(L/R) German Vice Chancellor and Federal Minister of Finance Lars Klingbeil and German Federal Minister for Economic Cooperation and Development Reem Alabali Radovan walk through Freedom Plaza in Washington, DC, on April 15, 2026. (Photo by Mandel NGAN / AFP via Getty Images)