China and US trade talks stall over IP issues
IP issues have proved to be a stumbling block in talks between the US and China over a new trade deal, according to reports.
China’s alleged state-backed IP theft was at the centre of the talks earlier this month, Bloomberg reported yesterday, January 21.
The discussions around IP amounted to little more than “an airing of grievances”, with this contributing to the wider talks making little progress, according to participants.
The trade talks began in December 2018 amid controversy in the US over China’s alleged strategy of promoting the theft of IP, including trade secrets, from American companies.
In November, WIPR reported that US authorities had unsealed an indictment against Chinese firm Fujian Jinhua Integrated Circuit Company, accusing it of stealing trade secrets from US-based Micron Technology.
That followed the US Department of Justice filing charges in October against ten Chinese nationals accused of conspiring to steal IP from American and European companies in a scheme organised by the Chinese Ministry for State Security.
China has denied all allegations of state-backed trade secrets theft, and has in recent months announced a series of measures aimed at cracking down on IP offences in the country.
Those punished face a ban from issuing bonds, trading property and land, registering a company, accessing state financial aid and participating in foreign trade.
A new round of talks is set to begin on January 30. In a tweet posted yesterday, US President Donald Trump called on China to “stop playing around” and “do a real deal”.
The IP dispute comes as part of a wider trade war. The US has so far imposed over $250 billion worth of tariffs on Chinese goods, including industrial and consumer items, the BBC reported.
China has responded with $110 billion worth of tariffs on sectors including chemicals and coal.
The two sides agreed in December not to impose further planned tariffs in order to allow trade talks to go ahead this month.
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