China Will ‘Outright Steal’ US Technology, Unless Checked, Deputy USTR Tells WTO
Unless unfair trade practices are curbed, China “will force technology transfer, and outright steal it when it sees fit,” to become the world’s “preeminent producer, particularly in strategic industries,” Deputy U.S. Trade Representative Dennis Shea told the World Trade Organization…
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Wednesday in Geneva. “China will subsidize and maintain excess capacity in multiple industries, forcing producers in other economies to shut down.” It will justify dumping its products elsewhere with the claim consumers will “pay a little less,” he said. If the U.S. “musters a response,” China accuses the U.S. of “abusing our power and acting irresponsibly,” he said. If China has its way, “we should resign ourselves to nursing the wounds inflicted on our citizens,” he said. “This is not acceptable.” The Trump administration postponed for 90 days to March 2 hiking tariffs on Chinese imports to 25 percent to give negotiators time to work out a comprehensive trade agreement on forced technology transfer, IP theft and other issues (see 1812140045).