Treasury Nominee Pressed on Global Tax Deal, China Tariffs, Inflation –

WASHINGTON—Senators pressed Jay Shambaugh, President Biden’s pick to serve as the Treasury Department’s top economic diplomat, about the administration’s efforts to overhaul the global tax system, elevated inflation and U.S.-China relations at a confirmation hearing Tuesday.

If confirmed by the Senate to be Treasury’s undersecretary for international affairs, Mr. Shambaugh, an economist, would play a key role in shaping the department’s work on international trade and finance, including overseeing relations with the International Monetary Fund and the World Bank.