President Donald Trump, left, poses for a photo with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan, Saturday, June 29, 2019.China has rolled out plans to bolster rules to protect patents, copyrights and trademarks.Intellectual property theft costs American businesses up to $600 billion a year, according to a recent ITA report.
Rules around patents, copyrights and trademarks have long been a chief complaint against China, helping to ignite a dispute between the largest economies early last year. In a 2018 US International Trade Administration, it was estimated that intellectual property theft cost American businesses up to $600 billion a year.
The move to address intellectual property rules came as China continued efforts to defuse tensions with the Trump administration, which have led to steep tariffs on thousands of products and cast uncertainty on business activity across the globe.
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