The threat of escalation in the US-EU trade war seems to have faded for now, after presidents Trump and Juncker met in the White House.
Many years before President Trump won the 2016 presidential election, he labeled China a country that manipulates the value of its currency to hurt the United States in trade. “When will the US government finally classify China as a currency manipulator?” Trump tweeted in 2011. “China is robbing us blind and @BarackObama defends them.”
If completed it could have devastating consequences for standards in agriculture, services and manufacturing, and the lives of billions of people, yet the negotiations are happening behind a veil of almost total secrecy. Trade experts from across Asia assessed the RCEP negotiations against criteria for transparency, public participation and good governance and found great cause for concern.
She said the U.S. move not only targeted China, but also regarded the whole world as an enemy, which will drag the global economy into danger, adding that the trade disputes will inhibit the growth momentum of global trade, impact the confidence of all parties in world economy, and endanger the well-being of all people.
House Subcommittees Hold Hearing on China’s Predatory Trade, Investment Strategy – IPWatchdog.com | Patents & Patent Law
The day’s hearing featured discussion of actions the U.S. government should be taking in order to counter deceptive trade practices pursued by the Chinese government, a topic which has become a main theme of the administration of President Donald Trump.
Trade wars, while perhaps nerve-wracking, are winnable, according to former White House chief strategist Steve Bannon. “How [the trade war] ends is in victory,” Bannon said Wednesday at a Manhattan investor conference. “Donald Trump is not going to back off this. The Chinese are going to blink.”
The Chinese theft of American intellectual property, according to a former NSA director, is the “greatest transfer of wealth in history,” likely costing the U.S. upward of $400 billion per year. “I’ve stated on the record that Chinese attacks into our country is the greatest theft of intellectual property,” Keith Alexander, who served under President Barack Obama, said during an interview with FOX Business’ Maria Bartiromo on Wednesday.
“In recent months, the United States has repeatedly accused China of stealing intellectual property rights, but it has never been able to come up with strong evidence,” said Chinese Foreign Ministry spokesperson Hua Chunying at a daily press briefing, when commenting on the Statement by the U.S.
European aircraft-maker Airbus said its subsidiaries Navblue and Aerial have signed contracts with three Indian start-ups that were accelerated at Airbus Bizlab India. The company said the partnership aims to power cutting-edge technologies that will help usher in new industry benchmarks in aeronautical data services, flight operations and imagery services.
Balanced Achieved In Future Work For WIPO Patent Law Committee, Delegates Say – Intellectual Property Watch
The last World Intellectual Property Organization committee before the summer break ended on a happy note this week. After some time spent tweaking the future work of the WIPO committee on the law of patents, delegates appeared satisfied with the balance achieved.
U.S. accusing China of forced technology transfers, IPR theft unacceptable: MOC – Xinhua | English.news.cn
Foreign firms in China have reaped huge benefits, but the U.S. government has still accused China of forcing technology transfers and stealing IPR, which is distorting China’s reform and opening-up and historical facts, as well as disrupting commercial credit and violating contract spirit, Gao said.
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President Trump’s administration has a “selfish” attitude toward intellectual property rights, a Chinese diplomat said Friday amid the White House’s crackdown on IP theft. “No one has the monopoly over the application of IPR to promote social and economic development,” Chinese Foreign Ministry spokeswoman Hua Chunying told reporters.
A jury in St. Louis found Thursday that Johnson & Johnson should pay $4.69 billion in damages to 22 women and their families who blamed ovarian-cancer cases on asbestos in the company’s iconic baby powder, the biggest single verdict in such cases so far.
China is preparing to give swift regulatory approvals to India-manufactured drugs, the head of an Indian export promotion group said, as Beijing looks for new commercial partners ahead of what could be a protracted trade war with the United States.