The United States, under both Republican and Democrat administrations, has not taken the national security threat posed by China "remotely seriously," but President Donald Trump is now pushing back hard on trade aggression, which is connected, Secretary of State Mike Pompeo said Wednesday.

"We are responding on every front," Pompeo told Fox Business' "Mornings With Maria" anchor Maria Bartiromo. "On the military side, we've seen our military built up, $700 billion this year, $715 billion this year. So we have the capacity, the capability to project power."

Pompeo pointed out that "China conducted more ballistic missile tests last year than the rest of the world combined," meaning the nation poses a "serious military threat."

Meanwhile, America's capacity for innovation and for building out technology will allow it to push back on China's threats on trade and intelligence, said the secretary.

Also on Wednesday, Pompeo rejected reports that he plans to drop out of his post as secretary of state and run for Senate in Kansas.

"As you can see from this morning, there is plenty on my plate today," said Pompeo. "I intend to stay the secretary of state as long as President Trump will give me the incredible privilege to represent Americans around the world."