Walmart CEO Doug McMillon said Wednesday he hopes the United States and China will build a "collaborative" relationship amid worsening bilateral relations.

"It's obviously a very important relationship, the relationship between the United States and China. China still plays an important role in our supply chain. We also have stores and clubs and e-commerce investment in China," Doug McMillon said in his appearance at Fox Business' "Mornings with Maria."

"It is our hope that these countries will work together, this administration and in years to come, to find ways to have a collaborative relationship," he added. "We want to be able to do business in China. I know a lot of American businesses and farmers and others want to as well."

Despite the decrease in unemployment, slow job growth and further spread of COVID-19 have cast shadows on the U.S. recovery pace.

Walmart has hired roughly 500,000 people since mid-March, but many of those roles are temporary. McMillon also called on the government to support small businesses amid the coronavirus pandemic.

"A lot of those people lost jobs. They've got to have jobs to go back to. We need Congress to come together to figure out what steps needed to be taken so small businesses are protected," he added.

The company has more than 400 stores and clubs in China and has been building e-commerce operations there since the end of 2010.

According to the earnings Walmart shared on Tuesday, the retailer's profit spiked 79 percent in the three months through June as more customers ordered goods online while riding out the COVID-19 pandemic from home.

Data from China's General Administration of Customs (GAC) showed that the total value of China-U.S. trade was 2.03 trillion yuan (about 293.36 billion U.S. dollars) during the first seven months, declining 3.3 percent from a year earlier, accounting for 11.8 percent of China's total foreign trade.

Among them, exports to the U.S. were 1.56 trillion yuan, down 4.1 percent, imports from the U.S. were 475.5 billion yuan, down 0.3 percent, with trade surplus down 5.7 percent.