Chinese leader Xi Jinping has pledged to continue cooperation with President-elect Donald Trump following his final meeting with current U.S. President Joe Biden, Azernews reports.

The two leaders met on Saturday during the Asia-Pacific Economic Cooperation (APEC) summit in Peru, where they acknowledged the “ups and downs” of U.S.-China relations during Biden’s four years in office. However, both emphasized the progress made in lowering tensions on key issues such as trade and Taiwan.

Experts warn that U.S.-China relations could become more volatile with Trump’s return to office in two months, particularly due to his promise to impose 60% tariffs on all Chinese imports. Trump's administration also saw the appointment of several prominent China hawks to top foreign and defense positions, raising concerns in Beijing.

In his meeting, Xi Jinping reaffirmed China’s commitment to a stable relationship with the U.S., stating that Beijing is ready to work with the new administration to maintain communication, expand cooperation, and manage differences.

Biden, for his part, emphasized that strategic competition between the two global powers should not escalate into conflict. "Our two countries cannot let any of this competition veer into war," Biden said, highlighting the importance of managing tensions responsibly, as they had done during his presidency.

Despite several flare-ups, including the spy balloon incident and Chinese military exercises around Taiwan, Biden’s administration aimed to responsibly manage the rivalry with China while continuing some of Trump’s hardline policies, such as maintaining tariffs. The Biden White House also bolstered defense alliances across the Asia-Pacific region to counter China’s growing assertiveness.

As Trump prepares to assume office again, analysts note that Beijing is likely concerned about his unpredictable foreign policy approach and his plans for economic retaliation. Bonnie Glaser, from the German Marshall Fund, suggested that China would be eager to engage early with Trump’s team, but wary of the potential for harsher tariffs and a lack of reliable back channels to influence his policies.

The meeting between Xi and Biden marked the latest in a series of candid discussions between the two leaders. Despite disagreements, the two sides have managed to reach agreements on issues like climate change and narcotics. However, China’s claim to Taiwan remains a significant point of tension, with Beijing warning against U.S. support for the island’s sovereignty.

As Trump’s presidency looms, the future of U.S.-China relations remains uncertain, with both sides preparing for a period of heightened strategic competition.