If an investigation begins, the U.S. government could seek remedies either through the World Trade Organization or outside of it.
Should an investigation find wrongdoing, Trump could impose tariffs against Chinese imports, which would mark a significant escalation in his efforts to reshape the trade relationship between the world's two largest economies.
If the investigation finds that China is harming United States companies, the Trump administration could respond by imposing tariffs, negotiating an agreement with China or other measures, the officials said.
Trump has been trying for months to get China to exert more pressure on North Korea, but has recently expressed frustration with the lack of progress.
The so-called "New York channel" is being used regularly by Joseph Yun, the US envoy for North Korea policy, and Pak Song Il, a senior North Korean diplomat at the country's United Nations mission, according to AP.
Trump raised alarm around the world - and particularly in Asia - by warning that North Korea would face "fire and fury like the world has never seen" if it were to keep threatening the US.
The forced sharing of intellectual property with Chinese firms has been a long-standing concern of the United States business community.
China's foreign and commerce ministries did not immediately respond to faxed requests for comment Sunday. "If China helps us, I feel a lot different toward trade".
Trump, in the past, has tied trade policy to national security.
Trump is expected to return to Washington from his golf club in Bedminster, N.J. on Monday to sign the memo.
The decision will not only take action against alleged Chinese violations of USA companies' intellectual property rights, but could also be perceived as an attempt by the US government to crank up the pressure on Beijing to rein in North Korea.
"We want to talk about a country that has misbehaved for many, many years - decades actually - through numerous administrations and they didn't want to take on the issue and I had no choice but to take it on and I'm taking it on", he said.
President Donald Trump is seeking continued help from China's president in addressing the threat posed by North Korea's nuclear developments.
"A decision to trigger Section 301 today is problematic because it would provide additional fuel to the already simmering argument that the Trump administration is undoing the American commitment to rules-based trade and decades of work to establish worldwide cooperation", argued Bown, who worked as a senior economist for global trade and investment in the White House Council of Economic Advisers and the World Bank.
The ongoing talks have included discussions about U.S.
"Trump looks forward to seeing Xi in China later this year, a meeting that will be a very historic event".
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