The U.S. and China are tightly bound together: Annual trade between the two nations adds up to more than $690 billion. Some 290,000 Chinese students study in the U.S. Americans rely on iPhones and other gadgets assembled mostly in China. And no country buys more American agricultural products than China.
Despite this, the two nations often clash politically. As the U.S. has tried to isolate Russia after its invasion of Ukraine, China has welcomed Russian President Vladimir Putin in Beijing and continued buying Russian oil. In February, the U.S. shot down a Chinese surveillance balloon that was floating across the continental U.S. And the two countries are increasingly wary of each other.
“There’s a lack of good faith on both sides,” says Ian Johnson of the Council on Foreign Relations in New York. “Each side believes the other is trying to pull a fast one.”
Still, there are areas, such as climate change, in which it’s clearly in both countries’ interests to work together, and American officials are trying to use those common interests to start talks.
U.S. Treasury Secretary Janet Yellen says the U.S.-China relationship isn’t a zero-sum game “where one must fall for the other to rise.”
“We believe,” she says, “that the world is big enough for both of us.”