U.S. Commerce Secretary Wilbur Ross said on Thursday that President Trump is advancing towards establishing a trade balance with China.
Ross highlighted China’s commitment of revising its plan to dominate advanced technologies dubbed, Made in China 2025 plan, as important step towards a trade solution.
“I hope they are really backing off it, because that’s what led to a lot of the bad behavior on the intellectual property rights,” he told FOX Business’ Lou Dobbs.
Protecting U.S. intellectual-property rights, forced tech transfers in China and cyber-crime issues have been at the forefront of trade talks between the two world’s largest economies.
“What we’re really looking for is not only a commitment to that kind of forbearance, but something that’s verifiable and enforceable,” Ross said. “Just a piece of paper is not enough.”