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

WASHINGTON—Senators pressed Jay Shambaugh, President Biden’s decide to function the Treasury Department’s high financial diplomat, concerning the administration’s efforts to overtake the worldwide tax system, elevated inflation and U.S.-China relations at a affirmation listening to Tuesday.

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