Trump Moves To Crack Down On China’s Trade Practices, Says It’s ‘Just The Beginning’

United States President Donald Trump has asked his country's Trade Representative Robert Lighthizer to review Chinese trade practices regarding intellectual properties. As per CNN Money report, Trump signed a memorandum on Monday that directed Lighthizer to determine whether an investigation is needed into alleged unfair Chinese trade practices.

"We will safeguard the copyrights, patents, trademarks, trade secrets and other intellectual property that is so vital to our security and to our prosperity," Trump said after signing the memorandum, adding that, "This is just the beginning."

This move, which could allow Trump to impose tariffs on Chinese goods, comes at a time when Trump's administration seeks cooperation with Chinese President Xi Jinping on North Korea's ongoing missile threats.

This came after US corporations, that do business in China, have complained that China is spying, hacking or forcing companies to hand over their intellectual property, such as a patent on a software product. According to a report published this year, China is the main offender of stealing US intellectual properties, estimating it costs the US economy up to $600 billion a year.

"We will engage in a thorough investigation and, if needed, take action to preserve the future of US industry," Lighthizer said.

Earlier, fearing the trade penalties by the US over intellectual property violations, China's Commerce Ministry on Monday had issued an order imposing economic sanctions on North Korea so as to force the reclusive country to curb its nuclear weapons programme. (ANI)