The US-China Trade Deal Phase Two – Digital Trade, Intellectual Property, Cyber Intrusions, and a Bilateral Investment Treaty

However, the US-China Business Council President, Ambassador Craig Allen, in comments made to Fox News stated that he felt the Chinese would be changing aspects of their attitude towards IP with particular benefit to the US pharmaceutical and software industries, even suggesting that China might “change its laws” to accommodate this. That could involve increasing punishments for patent infringements, as well as raising the threshold for US companies to obtain revenues from royalties – an issue that could mean introducing a US-China bilateral trade agreement (BIT) to cover this area.