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Trade

Biden says US needs to align with democracies after RCEP signing

China shouldn't be 'the only game in town,' president-elect argues

NEW YORK -- America needs to align with other democracies so that they, and not China, can write the rules on trade, U.S. President-elect Joe Biden said Monday, the day after 15 Asia-Pacific countries signed a historic free trade agreement that does not include Washington.

"We make up 25% of the world's trading capacity, of the economy of the world. We need to be aligned with the other democracies, another 25% or more, so that we can set the rules of the road," Biden noted when answering a question on whether the U.S. should consider joining the Regional Comprehensive Economic Partnership, "instead of having China and others dictate outcomes because they are the only game in town." 

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