Billionaire Democratic donor George Soros offered praise for President Donald Trump's China policy.
His comments came in a column posted by The Wall Street Journal on Monday evening.
"The greatest — and perhaps only — foreign policy accomplishment of the Trump administration has been the development of a coherent and genuinely bipartisan policy toward Xi Jinping's China," he wrote.
"The administration rightly declared Beijing a strategic rival and placed Huawei, China's multinational telecommunications giant, on the Commerce Department's so-called 'entity list' as a national-security threat. This prevents U.S. companies from doing business with Huawei."
Soros said China is a "dangerous rival in artificial intelligence and machine learning."
However, he said China must depend on about 30 U.S. companies to keep Huawei supplied with core components to compete in the 5G market.
"The coming years will therefore be crucial in determining whether the U.S. or China comes out ahead in 5G," he wrote. "The current situation strongly favors the U.S. However, President Trump may soon undermine his own China policy and cede the advantage to Beijing."
He noted an amendment to the National Defense Authorization Act has been introduced in Congress that would prohibit Trump from removing Huawei from the entity list without the consent of Congress.
"In my view, he wants to arrange a meeting with President Xi Jinping as the 2020 election approaches and make a trade deal with him, and he wants Huawei's status on the table as one of his bargaining chips," Soros wrote.
He maintained it appears Trump is "desperate for a deal."
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