How much has USA lost from China's IP theft?

China says WTO ruling on Obama tariffs shows US is a 'repeat abuser'

Technology and retail industry leaders are criticizing Donald Trump's recommendation to impose tariffs on up to $60 billion worth of imports from China.

The U.S. has complained for years about China's sharp-elbowed trading practices, accusing it of pirating trade secrets, manipulating its currency, forcing foreign companies to hand over technology, and flooding world markets with cheap steel and aluminum that drive down prices and put U.S. manufacturers out of business.

"Reports indicate that "apparel" and "textiles" will be on the list, but there has been nothing more specific than that to date", HPFA counsel Robert Leo noted in an email to association members yesterday afternoon.

Leaders of Apple Inc, Google and other USA technology giants are heading to China this weekend to pursue a familiar goal: to do more business in the world's most populous country. But in a sign that he will still turn to the WTO when it suits his interests, Trump had his government file a complaint through the organization to try to stop China from allegedly stealing technology from US companies that operate there.

Though, it has shown its readiness to negotiate an agreement with the U.S. to avoid a trade war.

Meanwhile, US Commerce Secretary Wilbur Ross said Friday that US and South Korean officials were "relatively close" to reaching a deal on the steel and aluminium tariffs, with an announcement possible as early as next week.

According to a document on accelerating the development of the rehabilitation and assistive tool industry released by the State Council in 2016, China's assistive device industry will hit 700 billion yuan (110.6 billion US dollars) by 2020. A probe was launched a year ago under Section 301 of the 1974 US Trade Act.

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The United States has long said that intellectual property theft has cost the US economy billions of dollars in revenue and thousands of jobs.

In the United Kingdom, there was a warning that despite being spared from the tariffs, the British steel industry could still suffer. China typically responds to trade salvos proportionally, which economists call a tit-for-tat response.

In a retaliatory move, China unveiled plans yesterday to impose higher tariffs on Dollars 3 billion worth of American goods including pork and pipes in retaliation to U.S. tariffs on steel and aluminium imports from Beijing. "It also demonstrated that the worldwide community is concerned about the recklessness and danger of USA policies and actions".

The Chinese Ministry of Commerce is not satisfied with the remedies that Qualcomm has offered so far and has told the company to propose more, people familiar with the matter have said. "But China is not afraid of, and will not recoil from, a trade war. It's certainly not in New Zealand's interest", he said. Chinese President Xi Jinping sent two high-level envoys to Washington last month, but neither managed to resolve the situation, he pointed out.

The United States today dragged China to the World Trade Organisation, accusing it of unfair technology practices that run counter to the WTO rules.

The move on tariffs is only the latest case of Trump undermining the WTO. We have great relationships with China.

In an apparent tit-for-tat measure, China threatened to slap tariffs on $3 billion worth of USA imports, sparking fears of a trade war between the two nations.

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