United States Treasury Deputy Secretary Wally Adeyemo told CNN in an interview on Monday that the country’s economy is moving in the right direction. Adeyemo noted that although the US is still in the process of recovering, it is seeing “pre-covid levels.”
As for the Chinese economy, he said that the country is facing “significant” challenges, however, it has resources to tackle these issues in the short term. He went on to say that the US has limited exposure to China’s economy.
Meanwhile, on the subject of United Auto Workers (UAW) and auto companies, Adeyemo underlined that US President Joe Biden still believes a deal can be reached.