Trump's Sharp Warnings for China

After taking a post-election congratulatory phone call with Taiwan's leader, Trump now says he would consider doing away with a bedrock of US-China relations, enraging the Chinese Foreign Ministry.
2:15 | 01/15/17

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Transcript for Trump's Sharp Warnings for China
Some of the exhibits, Cecilia. Inauguration day six days away, and Donald Trump is looking well past his swearing in to what could be major foreign policy shifts. Today, sharp warnings for China. And possibly Russia, a break. ABC's Gloria Riviera is in Washington with this part of the story. Reporter: A foreign policy shakeup from the president-elect before he is even sworn in. Donald Trump suggesting those sanctions against Russia imposed for hacking may be short-lived. I don't know that I'm going to get along with Vladimir Putin. I hope I do. Reporter: Telling "The wall Street journal" he'll keep the sanctions at least for a period of time. But quote, if you get along and Russia is helping us, why would anybody have sanctions if they're doing great things? Laying the groundwork for his future relationship with Vladimir Putin in his press conference this week. If Putin likes Donald Trump, guess what, folks. That's called an asset. Not a liability. Reporter: Trump's comments on sanctions come after the republican-led intelligence committee announced Friday it would investigate ties associated with political campaigns. And now this in that "Wall Street journal" interview. Trump saying he would consider doing away with a bedrock of u.s.-china relations. The one China policy in which the U.S. Engages in formal diplomatic relations solely with beijing and not Taiwan. China is ripping us off. You know who is getting the oil? China. What China is doing to us is horrible. Reporter: After his win, he took a congratulatory call from Taiwan's leader raising concern in both the U.S. And China. Why should some other nation be able to say I can't take a call? Reporter: Tonight the foreign ministry firing back, saying there is but one China in the world and no one can change that. Another busy week of senate confirmation hearings is coming up, including that of Nikki Haley for U.N. Ambassador who will face tough questions on both China and Russia, Cecilia. A busy week ahead. Thank you. You of course, can watch that inauguration all day right here. Coverage with George Stephanopoulos and team. Politics beginning at 7:00 A.M. Eastern on Friday.

This transcript has been automatically generated and may not be 100% accurate.

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