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3/23/2018, 11:44 AM (Source: TeleTrader)
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US files complaint with WTO against China

The United States launched a formal complaint with the World Trade Organization against China over "discriminatory technology licensing requirements," according to a statement released by the office of the US Trade Representative cited by AFP on Friday.

President Donald Trump instructed the Trade Representative to pursue the case against Beijing which is rooted in complaints from American companies that China requires them to hand over technology in order to gain access to its markets. Beijing has consistently denied the allegations. However, the bipartisan Commission on the Theft of American Intellectual Property estimates China's practices cost the US economy as much as $600 billion a year.

On Thursday, President Trump announced new punitive measures against China, targeting around $60 billion worth of Chinese imports to the US

Breaking the News / JC