China, Trump talk up prospects for US-China collaboration

investing.com 17/12/2024 - 05:24 AM

China's Foreign Minister Urges Cooperation with Incoming Trump Administration

BEIJING (Reuters) – China’s top diplomat expressed hope that the incoming Trump administration will collaborate with Beijing. This comes after Donald Trump mentioned that the COVID-19 pandemic has affected his relationship with his “friend” Xi Jinping.

Foreign Minister Wang Yi stated, "We hope the new U.S. administration will make the right choice and work with China in a mutually beneficial manner to remove disruptions and overcome obstacles," during a forum in Beijing, as reported by his ministry.

These remarks were made after President-elect Trump described his relationship with Xi as strained, stating, "We had a very good relationship until COVID… but it was a bridge too far for me," at his news conference.

Following Joe Biden’s inauguration as U.S. president in January 2021, China expressed its desire for cooperation and imposed sanctions on former Secretary of State Mike Pompeo and 27 other Trump-era officials.

The two superpowers are defining their positions ahead of Trump’s potential return to the White House, which previously resulted in a trade war that severely impacted global supply chains, contributing to inflation and rising borrowing costs.

Trump indicated he might escalate tensions with Beijing, planning to impose an additional 10% tariff on Chinese goods and seeking to revoke China’s most-favored-nation trading status.

In response, China aims to gather leverage for negotiations with the new U.S. administration concerning contentious bilateral issues such as trade, investment, and technology.

Moreover, Trump has nominated known China hard-liners for crucial diplomatic roles. Republican Senator Marco Rubio, nominated as the next secretary of state, faces existing sanctions from China, raising questions about his approach to Beijing.

Beijing is prepared to confront the Trump administration, with Wang confirming that China will firmly oppose any U.S. actions perceived as illegal, particularly regarding Taiwan.

> Note: This article has been amended to correct a typographical error in paragraph 6.




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