US must use 'all the tools at our disposal' to outcompete China, says State Dept official

The United States must employ "all the tools at our disposal" to outcompete China, Deputy Secretary of State for Management and Resources Rich Verma said on Monday as the Biden administration unveiled its budget request for the 2025 fiscal year.

The request includes $4 billion over five years in mandatory funding for this purpose, including $2 billion to create a new international infrastructure fund that provides a credible, reliable alternative to Chinese infrastructure funding, Verma said.