A trade agreement signed Wednesday in Washington commits the United States to scaling back economic sanctions on ChinaDonald Trump took office and took a far more aggressive approach to China and trade. It is unclear what China is going to do with the retaliatory tariffs it has imposed on U.S. products.
TECH TRANSFERS: China pledged to stop forcing U.S. and other foreign companies to hand over technology as the price of admission to the Chinese market. Any transfer of technology must be made for business reasons and not be coerced. Still, China has sworn off forced technology transfers before.
INTELLECTUAL PROPERTY: The agreement makes it easier to bring criminal cases in China against those accused of stealing trade secrets. It includes provisions designed to stop Chinese government officials from using administrative and regulatory procedures to ferret out foreign companies’ trade secrets and allowing that information to get into the hands of Chinese competitors.
The deal also requires China to come up with procedures to “permit effective and expeditious action’’ to take down websites that sell pirated goods. China also must make it possible for e-commerce sites to lose their licenses for “repeated failures to curb the sale of counterfeit or pirated goods.’’