“We will directly deal with the challenges that China poses to our prosperity, security and democracy,” said the American leader.

He promised to fight China's "abuses" in the economy, resist its "aggressive actions", and repulse "attacks on human rights and intellectual property."

At the same time, Biden noted that Washington is ready to work with Beijing when it is in American interests.

Earlier, US Secretary of State Anthony Blinken commented on the country's relations with China.