WASHINGTON: In a dramatic spy saga that has further strained relations between the United States and China, the U.S. military announced on Sunday that it is looking for the remains of the suspected Chinese surveillance balloon that it shot down the day before.

The drama surrounding the balloon, which Beijing has stated repeatedly is a civilian airship that unintentionally entered American airspace, has further strained already tense relations and prompted Washington to postpone Secretary of State Antony Blinken's trip to Beijing.

According to General Glen VanHerck, commander of the North American Aerospace Defense Command and U.S. Northern Command, the Coast Guard provides security for the operation. At the same time, the U.S. Navy works to recover the balloon and its payload.

Despite the fact that American officials have downplayed the balloon's impact on national security, a successful recovery could potentially provide the United States with information about China's spying capabilities.

A week after it first entered American airspace near Alaska, a fighter jet from the U.S. Air Force shot down the balloon on Saturday off the coast of South Carolina. According to VanHerck, the incident happened over U.S. territorial waters.

China criticized the response as an "obvious overreaction," but analysts said Beijing's response would likely be carefully calculated to avoid worsening relations.

Vice Foreign Minister Xie Feng of China stated in remarks to the U.S. embassy in Beijing that "China firmly opposes and strongly protests against this" on Monday morning.

The development of the situation is being closely monitored by the Chinese government, he added.

Republican lawmakers criticized President Joe Biden on Sunday for delaying days before shooting down the balloon as it passed over the country, accusing him of being weak in the face of China and initially attempting to conceal the violation of American airspace.

Republican senator from the Senate Armed Services Committee Tom Cotton said, "I think part of it is the president's reluctance to take any action that would be viewed as provocative or confrontational towards the Chinese communists."

Trump claimed on the social media platform Truth Social that "China had too much respect for 'TRUMP' for this to have happened, and it NEVER did."

Rep. Michael Waltz, a Republican, backed up Austin's claim, telling the Washington Post that the Pentagon had informed Congress that Chinese balloons had been spotted several times in close proximity to the United States during Trump's presidency.

In addition to previously reported sightings near Hawaii and Guam, he claimed balloons had also been seen twice near Florida and close to Texas.

Democrats claimed that Biden's decision to wait until the balloon had passed over the United States before shooting it down protected civilians from falling debris.

"The president demanded that this be handled in a manner that balanced the various risks. Pete Buttigieg, the secretary of transportation for the United States, said as much on CNN's "State of the Union." "program.

Senate Democratic Leader Chuck Schumer brushed off Republican criticism as "premature and political."

WASHINGTON: At a press conference, he stated, "The bottom line is that shooting down the balloon over the water was not only the safest option, but it was the one that maximized our intel gain."

On February 15, according to Schumer, the Pentagon will brief senators on the balloon and Chinese surveillance.

Chairman of the House of Representatives Intelligence Committee and Republican Mike Turner said he thought China was using the balloon to learn how to counter American nuclear weapons and missile defence systems.

In NBC's "Meet the Press" program, Turner stated that "the president has allowed this to go across our most sensitive sites and wasn't even going to tell the American public."

According to Marco Rubio, a Republican and vice chair of the Senate Intelligence Committee, China was attempting to indicate that it could fly over American territory. Rubio expressed his doubts regarding the intelligence value of the balloon's debris.

The incident could intensify the "tech war," according to brokerage ING, and would have a detrimental short-term effect on the Chinese yuan.

"More export restrictions on technology from various industries will probably be implemented by both sides. Despite the fact that the risk of logistical disruption due to Covid restrictions has now vanished, this is a new threat to supply chain disruption "It read.

According to ING, "This new risk is more of a long-term risk than an immediate one."

Early on Monday, trading saw the Chinese yuan drop to a low of 6.8077 against the dollar, reaching its lowest point in nearly a month.