The US has accused Beijing of forcing US firms to share their intellectual property with Chinese state-owned companies. The decision is set to escalate global trade tensions.
On Thursday, US President Donald Trump is set to announce new sanctions against China for stealing US intellectual property, according to a White House official.
The move comes amid heightened fears about a potential trade war over US plans to introduce tariffs on imports of steel and aluminum.
What we know so far:
How deep are US-Chinese trade relations?
In 2016, total trade between the United States and China reached $579 billion (€468 billion) with Chinese imports of US goods totaling $115.8 billion and US imports of Chinese goods at $462.8 billion. Only the 28-member EU saw more trade with the United States in 2016. Last year the US ran a $375 billion trade deficit with China, though US exports to China also hit a new record high.
US Federal Reserve Chairman Jerome Powell called the prospect of a trade war a growing threat to the United States.
amp/sms (AFP, Reuters)