According to a report released by the U.S International Trade Comission, in 2009 China's continuous practice of piracy over American products cost the US approximately $48 billion in business.
The losses came from the information, service, high-tech and heavy manufacturing sectors for the most part accounting for $44 billion or 91.6% of the total loss.
The report further concluded that if China had kept its obligations to protect US businesses' intellectual property rights, 2.1 million jobs could have been created in the US according to Reuters.
To this, Max Baucus, Senate Finance Committee Chairman, stated how China had fell short 'time and time again' to ensure US rights and interests over such property. He continued on by saying that the negligence of such activity produced real consequences as many Americans have lost their jobs thus that it couldn't be ignored.