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US to review China intellectual property policies
US to review China intellectual property policies
The US has formally launched an investigation into China's policies regarding intellectual property.
The
top US trade official, Robert Lighthizer, said his office had
"determined that these critical issues merit a thorough investigation".
The move was expected after President Donald Trump asked Mr Lighthizer to review China's practices.
China has voiced "serious concern" over the inquiry, which could result in US trade sanctions.
The
US has been concerned about these matters for some time, said Gary
Hufbauer, from the Peterson Institute for International Economics in
Washington.
The annual cost to the US economy from counterfeit
goods, pirated software and theft of trade secrets has been estimated at
up to $600bn (£470bn).
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