Donald Trump’s top aides are urging him to back Hong Kong’s pro-democracy protesters, but the president isn’t interested, multiple people familiar with the administration’s internal debates say.

In recent days, national security adviser John Bolton, China hands at both the National Security Council and the State Department, and several economic advisers have pushed for a more assertive posture on the Hong Kong demonstrations, which have paralyzed the former British colony and roiled markets.

They are finding little traction with a president focused more narrowly on trade negotiations with Xi Jinping — and worried that criticizing the Chinese leader’s efforts to stamp out dissent in Hong Kong will scuttle the possibility of inking a deal this winter....