Two leading Senators pressed US trade officials Monday for a full probe into how much China's alleged 'rampant theft' of intellectual property costs the United States in lost jobs and growth.
Senate Finance Committee Chairman Max Baucus, a Democrat, and Senator Chuck Grassley, the panel's top Republican, formally asked US International Trade Commission (ITC) Chairman Shara Aranoff to report back on the issue.
"American workers, the American economy and American businesses are suffering because of China's failure to curb the rampant theft of American intellectual property," said Baucus.
The lawmakers asked Aranoff for reports in November 2010 and May 2011 on alleged intellectual property theft in China and on the rising power's "indigenous innovation" programs that require government contracts to go to companies and products developed locally.
"China is using its 'indigenous innovation' program to discriminate against US products in the Chinese market. And, rampant infringement of intellectual property rights costs the United States billions of dollars each year," said Grassley.
The US Department of Commerce estimates that intellectual property accounts for more than half of all US exports and drives 40 percent of US economic growth.
The senators' formal request automatically triggers an ITC investigation.
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