The Pentagon mobilized fighter jets after spotting a Chinese spy balloon flying over the U.S.   The discovery was announced only days before U.S. Secretary of State Antony Blinken is scheduled to travel to Beijing. News about the incident broke while CIA Director William Burns spoke at Georgetown University in Washington, D.C., on Thursday. The U.S. took "custody" of the balloon after military leaders advised Biden not to order its destruction due to fears of dangerous debris. Canada said on Friday that it was monitoring a second balloon, but did not specify its origins. Burns did not mention the incident during his speech, but referred to China as Washington's "biggest geopolitical challenge." He warned against underestimating Beijing and Moscow's "mutual commitment" to their growing partnership. Burns said that China's competition with the U.S. is "unique in its scale" and may be "even more intense than competition with the Soviets was." It is unclear whether the spy balloon incident will affect Blinken's scheduled trip to Beijing next week to meet with his Chinese counterpart.