On Wednesday’s broadcast of Newsmax TV’s “Rob Schmitt Tonight,” White House Council of Economic Advisers Chairman Stephen Miran stated that denying student visas to China took away “crucial training” China needed for its economy and he hopes that intellectual property theft will be a part of future trade talks with China.
Miran said, “[T]he tariffs put real pressure on their economy, put real pressure on their economy. And then additional moves like the moves to deny student visas, right? Deprives them of crucial training they need for their economy to move their economy forward, and that’s a big deal, too. So, we were exerting real pain on the Chinese economy. They have an economy that’s dependent on exporting to the United States, and we put a stop to that. And it was real pressure on them to come to the dealmaking table.”
Host Rob Schmitt then asked, “The intellectual property theft is one of the biggest issues that American businesses have with China. They go into that market, they sell their products, they find that China steals their ideas and starts doing it themselves. It’s a really big problem that we have. Is there going to be work done in that area? I love that there’s a tariff for fentanyl trafficking, which is unbelievable, that they refuse to stop that. They say they can’t stop that. They can, but they won’t. So, that tariff is important and very powerful. As far as intellectual property theft, what’s being done there?”
Miran answered, “So, I hope that that’s a part of the future talks. And, to be clear, I’m not a trade negotiator, but, you’re completely right. It has been a very significant economic issue between the United States and China for many years, the wholesale theft of intellectual property and trade secrets, industrial espionage, all these things. And so, I do hope that it becomes part of the talks going forward. But never underestimate the ability of President Trump to negotiate a good deal in America’s interests. He’s done it many times in the past, and he’ll keep doing it.”
Follow Ian Hanchett on Twitter @IanHanchett
Read the full article here