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Us China Agreement Full Text

House of Representatives spokeswoman Nancy Pelosi, D-Calif., said in a statement that “in the face of the loss of thousands of jobs in the processing industry and the country farm, ravaged by the damage caused by President Trump, Americans have no choice but a striking television ceremony to try to conceal the total lack of concrete progress, transparency or accountability in this “phase 1″ agreement.” The agreement stipulates that companies should be able to “operate without any force or pressure from the other party to transfer their technology to people on the other side.” Any transfer of technology or license between people from each country must be voluntary in accordance with the agreement. The two countries also agreed to a provision preventing the government from directing or assisting domestic companies in acquiring foreign technologies that could create “distortions” in sectors and industries. The deal leaves tariffs on about $360 billion in Chinese imports, with the government`s leverage hoping to generate concessions in the future. The United States and China will work on their differences on how the agreement will be implemented, through bilateral consultations, starting at the operational level and then including senior officials. If these negotiations do not end the ongoing dispute, there will be procedures for imposing tariffs or other sanctions. The agreement, published in both Chinese and English, consists of eight chapters that cover several topics in detail, including intellectual property, technology transfer, food and agricultural products, and financial services. The 18-language chapter, which represents one-fifth of the comprehensive agreement, imposes various obligations on trade secrecy, drug-related intellectual property, geographical indications, trademarks, patents, e-commerce infringement and enforcement of pirated and counterfeit goods. The theft of IP and trade secrets has long been a concern of American companies and one of the main triggers of the Trump administration`s customs escalation. The agreement contains provisions for the protection of confidential information that are considered trade secrets – U.S. companies feel that this is not sufficiently protected by Chinese law. Considerable progress has also been made in protecting drug-related intellectual property.