May 18, 2011 / 7:16 PM / 8 years ago

China piracy cost US firms $48 billion in 2009-report

BIG SKY, Montana (Reuters) - Chinese piracy and counterfeiting of U.S. music, software and other goods cost American businesses an estimated $48 billion in 2009, the U.S. International Trade Commission said in a report released on Wednesday.

“China’s unfair practices cost the U.S. billions of dollars and millions of jobs,” Senate Finance Committee Chairman Max Baucus said in a statement as top U.S., Chinese and other Asia Pacific trade officials gathered in his home state of Montana for an annual meeting.

“Time and time again, China has failed to protect and enforce American intellectual property rights, and it continues to discriminate unfairly against American businesses. We cannot pretend that there aren’t real consequences to these violations when these numbers show that millions of American jobs are on the line,” Baucus said.

Reporting by Doug Palmer; editing by Sandra Maler

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