President Donald Trump will roll out new tariffs on Chinese imports by Friday, Reuters is reporting.
U.S. Trade Representative Robert Lighthizer told the House of Representatives Ways and Means Committee that he thinks new tariffs can stop the world’s second-largest economy from stealing intellectual property from American companies.
“We are losing that to China in ways that are not reflective of the underlying economics,” he said. “The remedies, in my judgment at least, would be one, doing something on the tariff front, and two, doing something on the investment front, and then perhaps other things.”
For years, the U.S. has asserted that the Chinese government and companies have stolen IP rights from U.S. businesses that may have caused hundreds of billions of dollars in damages.
China has already warned of retaliation if even more tariffs are applied against its exports.
But why is the federal government going after China for IP theft?
The private sector should be the ones in charge of this, not the government. If a private business feels their patents and IP have been violated, then they simply need to use the courts to settle the matter.
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