Congressman Matt Gaetz: “The President is Protecting American Businesses from China’s Predatory Trade Policies and IP Theft”

Washington, D.C. — U.S. Congressman Matt Gaetz (FL-01) today issued the following statement in response to the recent steps President Donald Trump has taken to protect American inventors, entrepreneurs, and innovators from China’s unfair trade practices, market manipulation, and IP theft:

“I commend President Trump for taking action against China’s ruthless and unfair trade practices, as well as its state-sponsored theft of American innovators’ intellectual property. For too many years, China has pursued trade practices and business policies that make it impossible for foreign companies to compete on a level playing field with Chinese companies. These policies, like its “Made in China 2025 policy,” hurt American companies and limit economic growth worldwide.

In August of 2017, Dr. Neal Dunn (FL-02) and I held a field hearing in Tallahassee: Wanton Loot — How China is Stealing Ideas from American Entrepreneurs. This hearing featured a panel of experts on Chinese trade and industrial policy. We learned about the many ways in which China consistently and deliberately steals American technology, then profits from it. China’s clear violations of patent and trademark law undermine American entrepreneurship. We also heard specific examples of alleged Chinese misconduct from Dean Minardi, CEO of Florida-based Bing Energy. A Chinese investor in his company absconded with intellectual property that had taken years to develop.

IP theft costs the US economy over 225 billion dollars a year. The greatest perpetrator is China, and as a member of the Subcommittee on Intellectual Property, I applaud the bold steps President Trump is taking to address this troubling issue. China is one of America’s largest trading partners; their predatory behavior is unacceptable.

China is engaging in a systematic and multifaceted strategy to steal intellectual property. Beyond the economic costs, this theft presents significant concerns for national security. The majority of Chinese companies that steal or benefit from stolen intellectual property are state-owned. The Chinese government is known for using their military’s cyber capabilities to hack into private US tech firms, stealing IP, then transferring the technology to state-run companies who profit from its development.

Following the field hearing, I had the opportunity to speak with senior White House officials about this crucial issue facing America. I am pleased that these conversations were productive, and that many of the recommendations we received from scholars and entrepreneurs are being put forth as official policy. Over the past several months, President Trump has been taking concrete steps to address the critical issue of China’s aggressive IP theft and unfair trade practices, which have cost America billions, if not trillions, of dollars in lost revenue and thwarted economic opportunities.

For too long, Presidents of both parties have failed to curb China’s wanton disregard for international law and IP rights. President Trump’s “America First” policies are a much-needed step in the right direction, and a victory for American innovation and creativity. America does not need a playing field tilted in its favor; our products are the best in the world, and American manufacturers only need to compete on a fair and level playing field in order to succeed. President Trump is leveling the playing field for the first time in well over a generation, and his actions will help American businesses thrive in today’s fast-paced global environment,” said Rep. Gaetz.

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