In May 2017 we reported on rising tensions between US and China over intellectual property (IP) issues, the full article can be read here. In that article, we explained how the American economy is losing out on billions of pounds each year to counterfeit goods and knock-offs produced in China.
On Saturday, President Trump announced that he was going to launch an investigation into Chinese Intellectual property practices that he once described as 'killing' the US economy. On Monday, he authorised an inquiry into whether a full investigation is warranted.
China is the US's biggest trading partner; a Chinese delegation visited Washington last month to discuss economic and trade issue. It is likely that an investigation would have an impact on the countries' trading relationship. The investigation also comes as President Trump seeks China's support to increase pressure on North Korea in the ongoing crisis over its nuclear program.
It has been reported that an investigation could result in tariffs or other trade restrictions being imposed on Chinese imports.
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