Biden Nominee Open to Using Trump-Era China Investment Ban (1)

President Joe Biden’s nominee to be Treasury Secretary Janet Yellen’s No. 2 indicated the U.S. is open to using a Trump-era investment ban to punish Beijing for violating international trade rules.

“It is critical that we use Treasury’s tools to hold China accountable for actions they take that are not consistent with international law and that put our national security at risk,” Wally Adeyemo, the nominee for deputy Treasury secretary, said Tuesday during his Senate confirmation hearing.

Part of that is to take “a critical look at how Chinese firms may be using our financial system to ...