Trump has pledged to impose tariffs on Chinese imports in excess of 60% but Beijing and Chinese companies are hoping that his protectionist policies will also irk U.S. allies in Europe and Asia - giving China an opening to increase its global influence and improve trade ties.

White House national security adviser Jake Sullivan called competition with China a top concern as President Biden hands the reins to President-elect Trump. He said the meeting takes place during a “critical moment between the US and China” and will “ensure that we don’t run into any problems in the next two months in this transition of power.”

President Joe Biden will hold talks this week with China’s Xi Jinping on the sidelines of an international summit in Peru.