{"id":41674,"date":"2017-08-19T08:46:14","date_gmt":"2017-08-19T08:46:14","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=41674"},"modified":"2017-08-19T08:46:14","modified_gmt":"2017-08-19T08:46:14","slug":"us-review-china-intellectual-property-policies","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/politics\/us-review-china-intellectual-property-policies.html","title":{"rendered":"US to review China intellectual property policies"},"content":{"rendered":"

US to review China intellectual property policies<\/span><\/strong><\/span><\/h2>\n

US to review China intellectual property policies:- The US has formally launched an investigation into China’s policies regarding intellectual property.<\/span><\/p>\n

The top US trade official, Robert Lighthizer, said his office had “determined that these critical issues merit a thorough investigation”.<\/span><\/p>\n

The move was expected after President Donald Trump asked Mr Lighthizer to review China’s practices.<\/span><\/p>\n

China has voiced “serious concern” over the inquiry, which could result in US trade sanctions.<\/span><\/p>\n

The US has been concerned about these matters for some time, said Gary Hufbauer, from the Peterson Institute for International Economics in Washington.<\/span><\/p>\n

The annual cost to the US economy from counterfeit goods, pirated software and theft of trade secrets has been estimated at up to $600bn (\u00a3470bn).<\/span><\/p>\n

On Friday the US said it planned to look into hacking and reports that the Chinese government is steering investment into US companies in key industries as a way to gain access to new technology.<\/span><\/p>\n

Officials will gather comments and hold a hearing in October as part of the so-called Section 301 investigation.<\/span><\/p>\n

What happens next?<\/span><\/p>\n

Mr Hufbauer said it’s a “foregone conclusion” that the US will find evidence of unfair practices, but it’s not clear how the Trump administration will proceed after that.<\/span><\/p>\n

It could bring a complaint to the World Trade Organization, or decide to take action unilaterally, which would be faster.<\/span><\/p>\n

Penalties might be targeted against individual companies, or more wide-ranging, he added, which will shape China’s reaction.<\/span><\/p>\n

On Tuesday, China’s commerce ministry warned: “If the US side takes actions that impair the mutual trade relations, disregarding the facts and disrespecting multilateral trade rules, China will not sit idle.”<\/span><\/p>\n

Source:-\u00a0http:\/\/www.bbc.com\/news\/business-40982032<\/span><\/p>\n

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