US indicts two Chinese firms for stealing trade secrets through Espionage

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It seems that the Trump Administration is not willing to stay calm anymore against those conducting espionage on the United States. On Thursday, the US Department of Justice has pronounced an indictment against two Chinese firms and 3 individuals from Taiwan for spying and stealing trade secrets from US Semi Conductor Company Micron Technology Inc.

Sources reporting to Cybersecurity Insiders say that the two companies are Taiwan based United Microelectronics Corp and China-based Fujian Jinhua Integrated Circuit Co Ltd. The 3 individuals facing allegations and are those who once worked for a unit of Micron.

The latest judgment order from the US Department of Justice comes just after a month when US President Donald Trump that he and his nation will from now on not spare those conducting espionage on the United States.

Scribes say that the two companies were found guilty for stealing intellectual property like trade secrets from the companies operating in the US. It was also proved that China was using illegal corporate subsidies and exploiting trade rules prevailing in the US in a bid to sell the goods manufactured in its region.

US Attorney General Jeff Sessions told a news conference that Chinese espionage has increased to new levels in recent times and the government has taken initiative to crack down on trade cases related to Chinese espionage.

In the past few months, there has been ‘N’ number of disputes when it comes to trade between the two countries i.e. China and the United States. The relationship between the two nations deteriorated even further when US President Donald Trump imposes tariffs on hundreds of billions of dollars on the goods being imported from China.

The 45Th President has also threatened to slap tariffs on the remainder of China’s USD 500 billion+ exports to the United States if the disputes cannot be resolved.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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