US targets China, Taiwan companies and three individuals for trade secrets theft

Business | 2 Nov 2018 11:41 am

Just after the upbeat readouts of the telephone call between US President Donald Trump and Chinese President Xi Jinping, the US Justice Department announced the latest in a long list of actions against what Trump administration calls China’s cheating through intellectual property theft, unfair corporate subsidies and rules hampering U.S. corporations in China, Reuters reports.

A Justice Department indictment targeted two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from U.S. semiconductor company Micron Technology Inc.

Earlier this week, prosecutors announced an indictment against 10 defendants, including two Chinese intelligence officers and other computer hackers and co-conspirators, who are all accused of breaking into American company computers to steal data on a turbo fan engine used in commercial jetliners.

On Wednesday, U.S. Secretary of State Mike Pompeo said China was probably Washington’s biggest long term security challenge and the United States was engaged in a "multi-pronged effort ... to convince China to behave like a normal nation on commerce” and respect international law.

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