Pacific Rim countries will be required to criminalise hacking attacks on companies under a regional trade pact that shows Washington’s determination to clamp down on Chinese cyber theft and ban new forms of digital protectionism.
The US, Japan and 10 other economies last month concluded five years of negotiations on the Trans-Pacific Partnership, covering roughly 40 per cent of the global economy. Although the pact does not include China, US officials from President Barack Obama down are selling the TPP as a crucial component in Washington’s efforts to write the rules of the global economy before Beijing can.
The deal will reduce trade barriers on everything from beef and dairy products to textiles, with new standards for environmental protection, investment disputes and the behaviour of state-owned enterprises.