How much has the US lost from China's IP theft?

How much has the US lost from China's IP theft?

The new tariffs will target $50-60 billion worth of Chinese products, or roughly 10 percent of the total value of USA imports from China in 2017.

"Unfair trade practices must be addressed, but the solution is not to put a new tax on USA businesses and force consumers to pay dramatically more to access the technology products they need", Shapiro said.

The inevitable fall in demand from a full-blown trade war would spell trouble for all economies supplying the United States and China.

Yesterday, the Ministry said it would "take all necessary measures" to defend its rights and interests, responding to media reports that the United States will soon release results of a Section 301 investigation against China.

The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping. In addition to the tariffs, the United States also plans to impose new investment restrictions, take action against China at the World Trade Organization and the Treasury Department also will propose additional measures.

According to reports, the Chinese are planning retaliatory tariffs against a series of key agricultural products from the U.S.: soybeans, sorghum, and live hogs.

Analysts said that traders were also spooked because China is the biggest buyer of U.S. government bonds, which the USA needs to sell to keep its economic wheels greased.

The statement did not go into greater detail.

Trump argues that previous USA presidents were way too soft on China.

But speaking to reporters on March 23 as he signed new budget legislation, Trump said his efforts were beginning to bear fruit.

"Each of them has the capacity to do a good contribution to worldwide trade, said Kennedy, "(and) each has a capacity to make it sour, to make it less effective".

The Semiconductor Industry Association (SIA) said the industry shares the Trump administration's concerns regarding unfair and discriminatory trade practices that put at risk American intellectual property in China.

The U.S. -China Business Council, which represents Americans that do business in China, said it agreed Chinese "technology transfer" policies need to be improved but it appealed to both governments to reach a negotiated settlement.

The ministry said China bought about $1 billion worth of those goods a year ago. "It also demonstrated that the global community is concerned about the recklessness and danger of USA policies and actions".

US diplomats, business leaders and many experts, though, blame China for consistently failing to address long-standing demands to open its markets further.

And Wei Jianguo, former vice commerce minister and now an executive deputy director of the China Center for International Economic Exchanges, a government-linked think tank, said: "China is not afraid, nor will it dodge a trade war". It rejected Trump's contention they are needed to protect US national security. It appealed for dialogue "to avoid damage to overall Chinese-US cooperation".

U.S. officials say an eight-month probe under the 1974 U.S. Trade Act has found that China engages in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms.

But Trump's move raises longer-term uncertainty about the world's most important economic relationship. "I fear the products we have poured so much money into can not find a buyer", Qi said. "These actions could undercut our potential to increase exports to China following the country's stated goal to move to a 10 percent ethanol blend by 2020, and would be a major barrier to increased trade".



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