US businesses split over China IP theft

US businesses split over China IP theft

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US businesses and trade groups are split over how forcefully to crack down on China over intellectual property theft, with some arguing the country is making progress on its own in enforcing protections and urging the Trump administration to use negotiation instead of punishment. Testimony at an International Trade Commission hearing on Tuesday showed the complexity of an issue that some groups say has cost the US hundreds of billions of dollars in technology and millions of jobs lost to China, something the administration of President Donald Trump has said it will challenge. They charge that Chinese firms have stolen ideas and software or forced firms to turn over intellectual property as part of the price of doing business with the world's fastest- growing major economy. The Trump administration has launched a so-called Section 301 investigation into China's alleged misappropriation of intellectual property, and the president could impose tariffs or import restrictions, according to Reuters