US Treasury deputy chief nominee pledges to get tough on China

Wally Adeyemo says he will fight unfair economic practices in China along with tackling inequality in the US.

Adewale “Wally” Adeyemo, United States President Joe Biden’s nominee for the No 2 job at the US Treasury, promised to crack down on authoritarian governments and fight unfair economic practices in China and elsewhere while working to rectify economic inequality at home. In testimony prepared for his confirmation hearing before the Senate Finance Committee on Tuesday, Adeyemo, said he would focus on three critical areas if confirmed: boosting US competitiveness, reclaiming the country’s credibility as a global leader and protecting US citizens from threats. As Treasury Secretary Janet Yellen’s deputy, Adeyemo will play a key role in shaping US economic policies and overseeing the vast power of the Treasury on everything from financial regulation to relief for everyday Americans and sanctions on foreign governments.