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White House targets cybertheft as worries about China mount (+video)

The White House put forward a new strategy Wednesday for combating cybertheft against US companies. The document says the theft of US trade secrets is 'accelerating.'

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The Obama administration on Wednesday unveiled a new strategy aimed at stemming cybertheft of US trade secrets, just two days after a major report alleged that cyberspies linked to China’s military had siphoned technology secrets from more than 100 US companies over seven years.

The new strategy, the administration says, would slow the theft of secrets, which if left unchecked would erode or significantly damage the competitive advantage of US companies in foreign markets, diminish export prospects around the globe, and jeopardize American jobs.

Emerging trends show “the pace of economic espionage and trade secret theft against U.S. corporations is accelerating,” including cybertheft, the new policy document says.

“As the Strategy lays out, we are taking a whole of government approach to stop the theft of trade secrets by foreign competitors or foreign governments by any means – cyber or otherwise,” said Victoria Espinel, the White House US intellectual property enforcement coordinator, in a statement.

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