China lost to USA in a trade war

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Photo: China Stringer Network / Reuters

Chinese President XI Jinping expressed the readiness of China to reduce tariffs on imported cars and improve the country’s protection of intellectual property. Reported by the Associated Press (AP).

“Open the doors of China will not close, on the contrary, they will open more widely,” said XI Jinping at an economic forum in Boao.

Trump had previously said in his Twitter that the loss of the U.S. economy from China’s theft of intellectual property amount to $ 300 billion. In 2018, the United States imposed in respect of imported goods, including Chinese, protective duties.

According to Chinese law, foreign companies wishing to work in China in such sectors as energy, telecommunications and automotive industry should establish joint ventures with local manufacturers. This practice often leads to the leakage of technology. The United States and other countries have repeatedly accused China of foul play and forcing foreign companies to transfer their intellectual property. China denies the accusations.

Video, photo All from Russia.

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