Egyptian telecom billionaire Naguib Sawiris on Tuesday praised President Trump for standing up to China on trade and backed the U.S. over security concerns about Chinese tech giant Huawei.
The conflict primarily stems from the Trump administration’s demand that China stops taking predatory actions in trade, including intellectual theft and forced handover of technology by U.S. companies.
So, by the time you come and tell them, 'You need to change,' I mean, they just used to be so comfortable and do whatever they want," Sawiris told CNBC.
“So we need to see what we can get without disrupting their system," Sawiris added, pointing out that he sees the potential for positive change in the U.S.-China trade talks.
Sawiris, who made his fortune in telecommunications, also told CNBC that officials have a right to worry about allowing Huawei operate in their countries, adding that the U.S. has a genuine concern about the Chinese tech giant’s technology.