Following President Donald Trump's recent executive order regarding China’s handling of technology and intellectual property, the U.S. Chamber of Commerce issued a response imploring the two nations to come to mutually agreeable terms.
“The U.S. Chamber of Commerce has been forthright in expressing our serious concerns regarding a range of Chinese government policies and practices that restrict access to its market, condition participation in the market on technology transfer, and broadly seek to undermine the value of intellectual property held by American companies,” Myron Brilliant, U.S. Chamber executive vice president and head of international affairs, said in a release. “These are global concerns that have also been voiced by stakeholders from around the world over many years.”
Noting that for the two nations to participate in mutual growth, American businesses must be able to access Chinese market entities just as those firms already enjoy the benefit of linking with U.S. companies, Brilliant said that China needs to “end forced technology transfer” and safeguard foreign-owned intellectual property (IP) rights on its own soil, the release said.
“The Executive Memorandum … is an opportunity for the U.S. government to examine these issues and consider a prudent path forward,” Brilliant said in the release. “The U.S.-China relationship is a critical one for the United States, China and the world. Ultimately, our long-term goal for our relationship must be enhanced two-way trade and investment. Expanded trade and investment is in the interests of both countries, but competition must be fair and market-based.”