Nominee for Treasury No. 2 to urge efforts to combat China's 'unfair economic practices'

The U.S. Treasury should work with Congress and use its tools to respond to authoritarian governments and combat unfair economic practices in China and elsewhere, President Joe Biden's nominee for the No. 2 job at the U.S. Treasury, Wally Adeyemo, said.

Adeyemo, in testimony prepared for his confirmation hearing before the Senate Finance Committee, also called for Washington to work closely with allies to "confront those that threaten our economic and national security."

Adeyemo also called for investments in U.S. critical industries and technology, and policies to protect American workers and companies from anti-competitive trade practices, according to the testimony, which was viewed by Reuters.