White House Adjusts Rules to Encourage More Loans for Tiny Businesses – The New York Times

White House Adjusts Rules to Encourage More Loans for Tiny Businesses – The New York Times


If confirmed, Wally Adeyemo will be a pivotal player in America’s economic diplomacy efforts.
Credit…Leah Millis/Reuters

Wally Adeyemo, President Biden’s nominee for deputy Treasury secretary, foreshadowed the tough approach that the Biden administration intends to take with China on Tuesday, underscoring the need to mobilize American allies to curtail China’s unfair economic practices.

At his confirmation hearing before the Senate Finance Committee on Tuesday, Mr. Adeyemo said the Treasury Department must use its full arsenal of tools to ensure that China is abiding by international laws. He called for a “holistic” view of the ties between the two superpowers, arguing that the economic and security relationships are intertwined.

“Where China is not willing to play on a level playing field, it’s important that we hold
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