President Trump to sign memorandum on Chinese IP theft
US President Donald Trump will reportedly sign a memorandum potentially directing US officials to target Chinese trade practices and clamp down on IP theft.
Several sources, including the New York Times, have claimed that anonymous insiders said that once the memorandum has been signed, an investigation could be launched into Chinese violations of US IP.
In a report earlier this year, the Chinese government stated that it wants China to lead the way in technologies such as driverless cars and artificial intelligence by 2025.
The New York Times reported that this led to concerns from the Trump administration that thefts of IP are taking place, adding that the memorandum may lead to a full investigation which could allow the president to impose tariffs or other trade restrictions to protect US industries.
The report added that the Chinese government has demanded that US companies cut licensing fees that they charge for key patents and has insisted that companies set up joint ventures to do business in China.
Several other countries including Germany, Canada and Japan have all expressed concern over China's behaviour on IP theft in the past, according to the newspaper.
As reported by WIPR in April, Trump signed an executive order to “promote the efficient and effective administration” of US trade laws.
According to a release by the White House at the time, within 90 days of the order, the secretary of Homeland Security through the commissioner of US Customs and Border Protection will develop and implement a strategy for combating violations of US trade and customs laws.
The order also aimed to ensure the “timely and efficient enforcement of laws” protecting IP rights owners from the importation of counterfeit goods.
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