US-China renegotiating trade pact, finding ways to co-exist says NSA Jake Sullivan

The National Security Advisor of the United States Jake Sullivan has informed a CNN broadcaster that the US has no longer been trying to change China and apart from this, the nation is searching for ways to exist side-by-side. Sullivan revealed that the US and China are currently in negotiations about the Trump trade pact. He added that the conversations not only encompass duties on products but rather about the whole spectrum of trade arrangements. 

Further clarifying the issue, US President Joe Biden's advisor stated, “The object of the Biden administration is to shape the international environment so that it is more favourable to the interests and values of the United States and its allies and partners, to like-minded democracies. It is not to bring about some fundamental transformation of China itself,” Sputnik reported.  

Jake Sullivan talks about US-China Policy

Sullivan believes that one of the shortcomings of prior approaches with policy towards China was the thought which expects the Chinese system would fundamentally change through US policy. As per Sputnik, "The goal of America's China policy is to create a circumstance in which two major powers are going to have to operate in an international system for the foreseeable future," he added. 

National Security Advisor went on to say that Washington will ensure that all these parameters would reflect the US and its partners' objectives and that it would create the "international rules of the road" to reflect their principles. 

Trade has surged between the US and China

Meanwhile, according to Sputnik, quoting the Chinese General Administration of Customs, trade and commerce between the US and China increased by 33.4% from January to October this year than in the same period in 2020. According to reports, commerce between the United States and China was $609.939 billion in the first 10 months of 2021. Furthermore, China's exports to the United States surged by 31.7% which amounts to $465.305 billion in January-October 2021. In the meantime, US exports to China increased by 39% with an amount of $144.634 billion. 

In spite of the serious trade disagreements between the two biggest economies, US-China commerce increased 8.3% last year to $586 billion.  Furthermore, China's state-run Global Times reported that economic expansion with the US reduced in October compared to the previous month of this year. The statistics were apparently provided by Chinese customs on Sunday, as the China-US phase one trade agreement continues to progress as its deadline approaches in January 2022. 

(Image: AP)