On Saturday, Chinese President Xi Jinping met with U.S. President Joe Biden for the last time before the end of his term at the sideline of the annual Asia-Pacific Economic Cooperation summit (APEC).
The Chinese leader has urged the U.S. administration to maintain a stable relationship and seek the right way for both countries to coexist. Meanwhile, the Chinese official noted that China is looking forward to working with President-elect Donald Trump’s administration on his America First policy.
Still, without directly mentioning Trump, Xi has brought up his concern over the President-elect’s protectionist policy, saying that it could throw a wrench into the U.S.-China relationship.
Xi elaborated that China is prepared to work with the new U.S. administration to maintain communication, expand cooperation, and manage a steady transition of the two countries’ relationship.
After the election, there was much uncertainty in the future U.S.-China relationship under Trump, who promised his voters that he would impose 60% tariffs on Chinese imports.
Many American companies, like Nike and Warby Parker, have been slowly moving their manufacturing away from China, while Steve Madden plans to slash imports from China by as much as 45% next year.
