President Joe Biden has formalized his administration's tough stand against China on trade and human rights abuses by America's "most serious competitor" in his first major policy speech as president.

"We will confront China's economic abuses," Biden said on Thursday, describing China as America's "most serious competitor."

He said the U.S. will resist China's "economic abuses, counter its aggressive, coercive action to push back on China's attack on human rights, intellectual property, and global governance."

His administration's relationship with Beijing won't only be confrontational, however. He said the U.S, will also be ready "to work with Beijing when it's in America's interest to do so. We'll compete from a position of strength by building back better at home and working with our allies and partners." 

He added that "America is back" as leader of the free world with "diplomacy is back at the center" of U.S. foreign policy.

Biden pledged to restore U.S. alliances and lead with multilateral diplomacy to meet international crises. Analysts had not expected a wholesale reversal of former president Donald Trump's trade and geopolitical policies on China by Biden, but did expect cooperation on issues like climate change. 

Biden reminded everyone he's spent more time with China's President Xi Jinping than any other world leader over the past two decades in a hint he's laid the groundwork for working with the Chinese leader.

True to earlier statements, Biden again promised to work more closely with U.S. allies in Asia and Europe.

"Over the past two weeks, I've spoken with the leaders of many of our closest friends-Canada, Mexico, the UK, Germany, France, NATO, Japan, South Korea, and Australia-to begin re-forming the habits of cooperation and rebuilding the muscles of democratic alliances that have atrophied from four years of neglect and abuse," said Biden.

His message is similar to those made the other day by the Department of State and the Department of Defense. The U.S. is more concerned about talking to U.S. allies first, said White House spokeswoman Jen Psaki and State Department spokesman Ned Price speaking at separate press events.

"So, as a first step we want to make sure that we are in lockstep with those allies, in lockstep with those partners, and then ... you can expect that there will be engagement in several areas with China," said Price.

He said it's "no coincidence" Biden and Secretary of State Antony Blinken's initial interactions were with America's allies in Europe and the Indo-Pacific region. He described U.S. alliances and partnerships as a "force multiplier" that advance U.S. national interests.