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In his first speech on the Senate floor since taking office, Sen. Mitt Romney called for strengthening ties with America's traditional allies in Europe. He also urged the administration to take the threat posed by China more seriously.

"We need to hold our friends closer, not neglect them or drive them away," said Romney. "These alliances are a key advantage we have over China. America has many friends. China has few."

Romney, who has a seat on the Senate Foreign Relations Committee, warned Russia will become more dangerous on the world stage as their economy and population decline.

"Russia continues its malign effort. Violating treaties, invading sovereign nations, pursuing nuclear superiority, interfering in elections, spreading lies and hate, protecting the world's worst actors from justice, and promoting authoritarianism," he said.

"As it falls further behind, we must expect Russia's inevitable desperation to lead to further and more aberrant conduct."

Romney famously identified Russia as the top geopolitical foe of the United States during his 2012 presidential run. During Tuesday's speech, Romney said that focus must now include China.

"It is past time for us to construct a comprehensive strategy to meet the challenge of an ambitious and increasingly hostile China," he said.