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6/14, 1:52 PM (Source: TeleTrader)
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US, China pause WTO intellectual property dispute

The United States and China agreed to suspend their dispute over intellectual property rights at the World Trade Organization (WTO) until the end of the year, the WTO said in a statement on Friday.

According to the WTO dispute panel, Washington asked for the halt of the dispute on June 3 and China accepted to suspend it the following day. The statement didn't reveal any details on the reason for the suspension.

In March 2018, the US filed a formal complaint with the WTO against Beijing over "discriminatory technology licensing requirements," claiming China requires American companies to hand over technology in order to gain access to its markets. China has consistently denied the allegations. The trade tensions between the two countries have intensified further since but US President Donald Trump remained confident Washington and Beijing will reach a trade deal.

Breaking the News / NP