US Government To Review Chinese Intellectual Property Laws

The United State government has officially opened an inquiry into China’s policies in relation to intellectual property.

“We are convinced that these critical matters merit a careful inquiry”. Mr Robert Lighthizer, A United State trade official, said. The action was already anticipated following the US President, Donald Trump requesting that Mr Lighthizer investigates China’s business exercise.

China has called the review a “serious allegation”, which might eventually lead to a US trade embargo.

The Peterson Institute for International Economics in Washington personnel Mr Gary Hufbauer, said: “The United State has been worried about these issues for quite a while now”.

The annual charge to the America economy from fake goods, unauthorized software and stealing of trade secrets has been approximated to about $600bn (£470bn).

Last week Friday the United State said it’s making plans to review reports and hackings related to the Chinese authority driving investment into United State firm’s top US business with a move to get access to latest technology.

The US said, on Friday they targeted to look into hacking and reports , that the Chinese government is leading investment into US companies, in key industries as a way to gain access to new technology.

Report Due In October

The agent will collect all reports and a court session will be scheduled in October as part of the alleged Section 301 inquiry. Mr Hufbauer said it’s a “foregone conclusion” that the United State will look for proof of unlawful business exercise, although it’s not certain how the Trump government will pursue the investigation.

It could deliver a complaint to W.T.O (World Trade Organization), or choose to take an independent legal action, which is quicker.

Punishment could be directed against individual firms, or a larger scale of other companies, he said, which could alter China’s response.

Tuesday, China’s commerce ministry advised: “If the America government decides to take actions that will harm the bilateral trade connection, neglecting the truth and tarnishing multilateral trade regulation, China will not accept any unfair judgment”.