Repercussions for stealing IP are among the highest. China has long been violating intellectual properties, and their theft has cost the United States anywhere from $225 million to more than $600 billion. They are about to hit with stiff new tariffs which President Trump has announced he will impose as punishment for these thefts. Imposing tariffs on China imports by the United States are reported by Professor Kamil Idris to be worth $50 billion. This amount is to cover losses suffered by corporate revenues due to the transfer of technologies during the IP theft.
Professor Kamil Idris further reported these new tariffs are rising unease among trading partners of the U.S. and Republicans lawmakers. These sanctions could cause potential reprisals from China and the European Union. It is worried this act will potentially slow down economic growth as the stock market gets scared that a global trade war is imminent. President Trump does not believe these new tariffs will create a trade war, even though a Tweet he left in March stated he felt a declaration of trade wars would be good and easy to win.
In a message from Professor Kamil Idris the definition of IP is explained and the reason, it is worth the effort President Trump is taking against the theft. IP (intellectual property) rights protect new technologies, copyrights, patents, industrial designs and trademarks which deal with very large issues. It is the reason our species has grown from the first wheel to incredible air and space travel. There is evidence China has used restrictions in foreign-ownership forcing American companies to hand over technology and have allegedly supported cyber-attacks on U.S. businesses in order to gain trade secrets.
Professor Kamil Idris is a member of the Permanent Court of Arbitration. He is in agreement with the Court’s desire to provide options for resolving international disputes. It is his mission to keep international peace and cooperation. Professor Idris is often called upon to preside over important and delicate panels of arbitration.
Professor Kamil Idris was born in 1954 and is a Sudanese stateman, international civil servant, and scholar. He has a Bachelor of Law from Khartoum University, a Bachelor of Arts in Philosophy, Political Science and Economic Theories. He has also earned his Masters in International Law and International Affairs from Ohio University in the United States.