Trump is advancing trade talks with China: Wilbur Ross

By MarketsFOXBusiness

China is talking about dropping its 2025 plan: Wilbur Ross

U.S. Commerce Secretary Wilbur Ross discusses the trade talks between the U.S. and China.

U.S. Commerce Secretary Wilbur Ross said on Thursday that President Trump is advancing towards establishing a trade balance with China.

Continue Reading Below

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.”