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

Share
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".

Share

Advertisement

Related Posts

KU embraces "underdog" title, as lines open against Duke
Kansas will play top-seeded East Region champion Villanova in the second national semifinal next Saturday in San Antonio. Clemson attempted to put a dent in its deficit before the break but a five-point Jayhawk possession dashed those hopes.

Apple Announces 9.7-inch iPad with Apple Pencil Support
While it may be working on a new 13-inch MacBook model, Apple probably won't have it ready by Tuesday, according to Bloomberg . But for what it's worth, at least schools won't have to spend a bunch more money just to get some styluses for their students.

Former Wichita police officer charged in dog shooting that injured child
You were causing a lot of police agencies and a lot of police department to rethink how fast do I deployed that resource. Detectives are going through hundreds of death cases to see if Chemirmir may be a suspect in more murders.

Facebook apologises for data scandal in United Kingdom newspaper ads
As Nick Bilton put it, "from a business standpoint, Facebook's barbarism seemed to work out well for the company". He says the data firm approached him for the project and assured him that everything he did was legal.

Thousands march for their lives on Walkway
Carrying signs and chanting "vote them out" and "enough is enough", the crowd marched from city hall to the Alamo. Estimates from two other sources, however, give wildly different ideas of how many people actually attended .

Australia's Steve Smith and Cameron Bancroft booed by South Africa fans
Bancroft was filmed not only rubbing the ball with the dirtied tape but also concealing the evidence down the front of his pants . The fate of Smith, Warner and Cameron Bancroft is expected to be become clear in the early hours of Wednesday morning (NZT).

Donald Trump removes NSA McMaster, replaces him with John Bolton
In a statement, Bolton said he has accepted the appointment, adding that it is an "honour" to become a part of Trump's cabinet. He is a familiar figure in Washington , with a walrus-like moustache and hard-charging views on many global challenges.

Steve Smith, David Warner could face life ban over ball-tampering
CA's head of integrity Iain Roy and head of team performance Pat Howard have also travelled to Australia. Smith had already been banned from the fourth Test of the series, which South Africa lead 2-1.

Green Bay First Church hosts Easter egg hunt
During this event, visitors can simply walk into the zoo for the price of regular admission, and then jump into the fun. One lucky child in each age group will win a Golden Ticket, good for a prize basket filled with candy and small toys.

NZ declare at 427-8, lead by 369 against England
It's hard to get back into a Test match from that [being bowled out for 58], we have to learn our lessons quickly. The New Zealand team scored four runs in those 2.5 overs, stretching their substantial first-innings lead to 175.

© 2015 Stocks News Daily. All Rights reserved.