Starting from the 2022-23 season, top-flight teams will now be able to make two more changes in matches.
Clubs voted to in favour of the rule change as a shareholder meeting in March.
Klopp was a staunch campaigner for five subs to be reintroduced, having first been allowed after football restarted in the UK's first coronavirus lockdown in June 2020.
Speaking to talkSPORT, Townsend believes the Premier League have finally ‘given in’ to Klopp’s demand.
What’s been said
He said: “I love how Jurgen Klopp has found a way. He's been moaning for years and finally, they have given in.
“He will probably still only use two or three in the biggest games. Who are we to argue with him?
“In the biggest games, Liverpool and City use one of three subs. They don't use the three subs that it has been.
“It's the games against Crystal Palace or Brentford, the games they can't break teams down, it's 0-0, they've got 11 men behind the ball.
“Right, can we bring on five world-class internationals who are fresh and can change the game to break down this stubborn defence?
“That's where it becomes a bit unfair but, like I said, who are we to argue?
“I don't think it makes it less competitive, it's still going to be the most competitive league in the world but it gives the top sides that extra advantage.
“Hopefully, my side is one of those teams who'll have the advantage with the squad we're looking to build.
“And, on a personal level, coming back from an ACL injury, five subs will probably suit me.
“But, on the whole, it suits your Jurgen Klopps and Pep Guardiolas who have world-class internationals."
‘All of this moaning puts pressure on the authorities’
Asked how much sway Klopp has on the Premier League, Townsend replied: “Clearly a lot.
“We saw last season, even the season before, constantly banging on about votes and votes, getting pushed back then all of a sudden they announce the five subs. Last season, then moaning about schedule, moaning about this, moaning about that.
“I think BT Sport put a Liverpool game on a Saturday night which I’ve never seen in the Premier League.
“Obviously, all of this moaning puts pressure on the authorities to give him what he wants and he has got what he wants on many occasions.”