Nominee for the United States Treasury’s Deputy Secretary position, Wally Adeyemo, has pledged to fight unfair economic practices in China and other countries with unfavourable economic policies if confirmed, Voice of America Reports.
He will be grilled on his views on US policy toward China, currently the subject of a comprehensive review by President Joe Biden’s administration when he appears before the Senate Finance Committee, on Tuesday.
“Treasury’s tools must play a role in responding to authoritarian governments that seek to subvert our democratic institutions; combating unfair economic practices in China and elsewhere; and detecting and eliminating terrorist organizations that seek to do us harm,” Mr. Adeyemo said in prepared remarks seen by Reuters.
The Nigerian-born American promised to focus on boosting U.S. competitiveness, reclaiming America’s credibility as a global leader, and protecting U.S. citizens from threats when confirmed for the number two job at the US treasury.
“We need to work with Congress and strategically use the Treasury Department’s tools to protect our citizens from threats, foreign and domestic.
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“Taking steps to ensure that all Americans share in our prosperity is not only a moral imperative, it is essential to our long-term economic growth,” Mr. Adeyemo added.
He also identified the COVID-19 pandemic as the most immediate threat to U.S prosperity, saying that economic policies must focus on providing relief to those harmed by the health crisis, especially those in low-income communities.
As the Deputy Secretary of the U.S treasury, Mr. Adeyemo will be saddled with the vital role of building the country’s economic policies and will oversee the vast power of the Treasury from financial regulation to relief for everyday Americans and sanctions on foreign governments.
When confirmed, Mr. Adeyemo, who served as a deputy national security adviser under the Barack Obama administration, will make history as the first Black deputy secretary of the U.S. Treasury. (VOA)
