The Washington Post reports that the United States is preparing economic sanctions against Chinese individuals and companies. The move is said to be against those who have profited from stealing U.S. trade secrets. The newspaper reported several officials in the administration of President Barack Obama say the U.S. has not decided whether to put sanctions in place. But, they said a decision is expected soon.
On April 1, President Obama signed an executive order. It permits the Treasury Department to block trade with anyone responsible for hacking U.S. groups or receiving information for financial gain. It also gives the Treasury Department power to bar their use of any money or financial assets kept in the United States.
The U.S. government and American companies have accused China of attacking computer systems and taking sensitive information and trade secrets. In May, the U.S. charged five Chinese military officers with spying against American companies. China rejected the accusations.
