Still, those changes will likely take time, because there is still “a big gap” when it comes to intellectual property laws between the United States and China, he added.
President Donald Trump briefly addressed the issue in an optimistic tweet on Sunday, writing that a deal on intellectual property would be struck between the U.S. and China. He did not elaborate further.
Earlier this month, Trump unveiled a list of Chinese imports, including high-tech products used in robotics and in other industries, that could be slapped with additional tariffs.
The Office of the U.S. Trade Representative said in a statement that the proposal was made in response to China’s policies that “coerce American companies into transferring their technology and intellectual property to domestic Chinese enterprises.”
Fears have simmered in recent weeks that the world’s two largest economies could engage in a trade war.
— CNBC’s Huileng Tan contributed to this report.
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