U. S. Secretary of State Mike Pompeo on Monday slammed China’s trade practices as “predatory economics 101” and said statements by Beijing in recent weeks…
U. S. Secretary of State Mike Pompeo on Monday slammed China’s trade practices as “predatory economics 101” and said statements by Beijing in recent weeks that it was moving to open its economy were “a joke.”
Pompeo said China’s theft of U. S. intellectual property “is at an unprecedented level of larceny” and he had raised the issue in talks last week with China’s President Xi Jingping.
Pompeo’s remarks to the Detroit Economic Club came as fears over a possible trade war between the world’s two largest economies weighed on stock markets.
China has long denied U. S. charges that Chinese firms have stolen ideas and software or forced firms to turn over intellectual property as part of the price of doing business in China.
U. S. President Donald Trump said last week he was pushing ahead with tariffs on $50 billion of Chinese imports, prompting a quick response from Beijing, which said it would put duties on several American commodities.
China said it would retaliate immediately by suspending previous trade agreements and slapping duties on American exports, including crude oil.
