China sees the use of Section 301 as an act of aggression because it allows the American president to act against the Chinese economy without consulting the World Trade Organization (WTO). China has been a member of the organization since 2001. The use of Section 301 fell out of fashion around that time because US leaders didn't see the point of using it anymore as the WTO's framework had more legitimacy. Even allies were complaining about its use.
Following President Donald Trump's recent executive order regarding China’s handling of technology and intellectual property, the U.S. Chamber of Commerce issued a response imploring the two nations to come to mutually agreeable terms.
The Trump administration formally launched an investigation into Chinese intellectual property theft on Friday in a signal that the departure of Steve Bannon, one of its most prominent economic nationalists, is unlikely to alter its tougher trade line against Beijing.
Foreign Direct Investment (FDI) plays an important role in the U.S. economy by creating jobs, increasing wealth, and raising living standards. The United States continues to hold the largest amount of FDI in the world. A new report released by the United Nations Conference on Trade and Development (UNCTAD) showed that the United States was also the largest recipient of FDI flows in 2016.
China criticized President Donald Trump’s order for a possible U.S. trade investigation of Beijing’s technology policies as a violation of global rules and said Tuesday it will “resolutely safeguard” Chinese interests.
Today (8/14) at the White House, President Donald J. Trump signed a Presidential Memorandum asking the United States Trade Representative (USTR) to investigate China’s laws, policies, practices, and actions. The President was joined by Secretary Wilbur Ross, Ambassador Robert Lighthizer, Secretary Steven Mnuchin, Lt. Gen. H.R. McMaster, Director of the National Economic Council Gary Cohn, and Director of the White House National Trade Council Peter Navarro.
President Donald Trump on Monday will order his top trade adviser to determine whether to investigate Chinese trade practices that force U.S. firms operating in China to turn over intellectual property, senior administration officials said on Saturday.
President Trump is prepping to tackle a nearly $500 billion problem. While the path of his quest is far from certain, Trump's directive to his trade officials to start preparing for an investigation on China's intellectual property policies was welcomed by an industry that has struggled with counterfeiting and piracy for years.
How China consumes -- or doesn't -- American entertainment is of major importance to the U.S. film and television industry, which is the world's largest and supports around 2 millions jobs in the country with a reported $134 billion in wages.
Beijing has forced a long list of American companies to enter joint ventures or share research with Chinese players, part of a broader push to create its own technology giants. From makers of smartphones to chips to electric cars, American businesses have reluctantly agreed, fearful of losing access to China, which has the second-largest economy in the world.