Chinese Commerce Minister Bo Xilai warned the US on Tuesday that any move to take WTO action against China over intellectual property violations would have an "extremely negative" impact on trade relations, Reuters reported. Responding to growing speculation in Washington that trade action on IPR is likely, Bo said: "We think it's senseless. It won't help solve any problems." American movie, music and other copyright-related industries claim they lost more than US$2.6 billion in China last year due to piracy. As much as 90% of the China market for these goods is believed to be controlled by pirates. The US – alongside Canada and the EU – is already embroiled in WTO litigation with China over Beijing-imposed tariffs on imports of foreign auto parts.
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