"It is being sent over," Trump said. "We're going to take a very good look at it, OK?"
Trump made is remarks during a Cabinet Room meeting about the dangers vaping poses.
Trump's comments came after the House and Senate this week passed the Hong Kong Human Rights and Democracy Act in reaction to anti-government protests that have convulsed the semi-autonomous Chinese city for more than five months.
The bill authorizes sanctions on Chinese and Hong Kong officials involved in human rights abuses and would mandate the State Department to annually review special autonomous status that the U.S. grants Hong Kong on trade.
"Look, we have to stand with Hong Kong," Trump said in an interview on "Fox & Friends." He continued: "But I'm also standing with President Xi. (Jinping) He's a friend of mine. He's an incredible guy."
White House officials did not respond to a request for comment on where Trump stood on the legislation.
Trump also claimed he's the reason China hasn't taken steps yet to crush pro-democracy protests in Hong Kong.
Trump said he asked Xi not to send in the military to stamp out the protests. The president added that he told Xi that efforts to quash the protests would complicate negotiations for a U.S.-China trade deal.
China has warned it will retaliate against the U.S. if Trump signs the bill supporting the Hong Kong protests.
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