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Trump opens door to investigating China's "theft" of U.S. intellectual property

13 August, 2017, 00:38 | Author: Priscilla Morrison
  • Trump opens door to investigating China's

Politico said the trade probe would not mean immediate sanctions, but could ultimately lead to steep tariffs on Chinese goods.

Trump has escalated his harsh criticism of North Korea for days, tweeting Friday that the USA had military options "locked and loaded". Lighthizer will recommend whether an official investigation into trade practices is warranted.

It adds China should also make clear that if North Korea launches missiles that threaten US soil and the USA retaliates, "China will stay neutral". It was not immediately clear whether he was talking about trade was the subject. -China trade ties and of resolving differences "through dialogue and consultation".

In an interview with MSNBC, Colonel Lawrence Wilkerson, who served in Vietnam and also worked as assistant to Powell when he was Ronald Regan's National Security Adviser, said that Trump was acting like he was negotiating a deal with casino mogul Steve Wynn.

Trade experts and business leaders said the new investigation into intellectual property could be a sign that the trade agenda is shifting into the hands of United States Trade Representative Robert E. Lighthizer, a respected negotiator who helped implement some of the most protectionist trade policies of recent decades during the Reagan administration.

A 2013 report by a commission co-chaired by Jon Huntsman, ambassador to China under President Barack Obama and Trump's nominee to be Russian envoy, pegged the losses from United States intellectual property theft at hundreds of billions of dollars annually that cost the USA economy millions of jobs. Trump tweeted Friday that military solutions are "locked and loaded, should North Korea act unwisely".

CNN also reported that Trump told Chinese President Xi Jinping about the expected executive action in a phone call on Friday. While China joined in a unanimous United Nations Security Council decision to tighten economic sanctions on Pyongyang over its long-range missile tests, it is not clear whether Mr Trump thinks Beijing is doing enough.

The trade investigation is expected to be only one part of a multi-pronged push by the Trump administration to counter perceived Chinese trade abuses, which Trump frequently railed against as a candidate.

"We lose hundreds of billions of dollars a year on trade with China".

The administration has been eyeing other moves to rebalance the U.S.

"Protection measures against some specific items, such as steel and aluminum, may gain political favors, but are not likely to be of much help to rebalance trade", economists at the Institute of International Finance wrote in a research note this week.


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