The US is reconsidering whether to give China more time to reduce widespread piracy and counterfeiting of US goods before going to the World Trade Organization for a dispute settlement, Reuters reported. Last October, the US warned China that they would be filing a case on the issue, but held off when China asked for further bilaterial discussions. Since no settlement has been reached yet, the US said it has prepared testimonies for a hearing. US software, music and book publishers claim they lose billions of dollars of sales annually in China because of piracy. Other American companies are also hurt by Chinese sales of counterfeit drugs, auto parts and other goods.
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