301 investigation reported by Hebei Longsheng
| President Trump signed an executive memorandum Monday afternoon that will likely trigger an investigation into China’s alleged theft of U.S. intellectual property, a measure that could eventually result in a wide range of penalties as the administration seeks a new way to deal with what it calls Chinese violations of the rules of international trade.
“The theft of intellectual property by foreign countries costs our nation millions of jobs and billions and billions of dollars each and every year,” Trump said, as he signed the memo surrounded by trade advisers and company executives. “For too long, this wealth has been drained from our country while Washington has done nothing... But Washington will turn a blind eye no longer.” Officials said the memorandum would direct their top trade negotiator, U.S. Trade Representative Robert E. Lighthizer, to determine whether to launch an investigation. The inquiry would give the president broad authority to retaliate if it finds that China is compromising U.S. intellectual property. |
