by Jordan Hilger, Worthy News Correspondent
(Worthy News) - US President Trump said Thursday that trade negotiations with China scheduled to occur later in the day would be "at a different level," according to Fox News Radio.
A trade war between the US and China began in July of last year when Trump imposed tariffs on $34 billion worth of Chinese goods, upping that number to $250 billion over the last year, with further tariffs slated to be imposed on $300 billion worth of Chinese goods September 1st.
The moves are a long time in coming, according to some experts, since it has been eighteen years since China joined the World Trade Organization that governs free trade mechanisms and promised “non-discriminatory treatment to all WTO Members.”
Despite assurances in 2006 that it would open up its banking and telecommunications sectors to foreign competition and accord foreign companies “treatment no less favorable than that accorded to enterprises in China,” the world’s second-largest economy still has not done so, and continues to be the primary source of the billions lost per year in American intellectual property theft.
According to the US’ Commission on the Theft of American Intellectual Property, China was responsible for most of the $180 to $540 billion in intellectual property losses suffered by the US in 2015.