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US business groups encouraged by prospect of US-China deal

Surveillance cameras are mounted on a lamp post near the large portrait of Chinese leader Mao Zedong at the Tiananmen Gate in Beijing, Friday, March 15, 2019. Chinese Premier Li Keqiang on Friday denied Beijing tells its companies to spy abroad, refuting U.S. warnings that Chinese technology suppliers might be a security risk. (AP Photo/Andy Wong)

WASHINGTON — U.S. business groups say they are encouraged by China’s approval of a new law that loosens restrictions on foreign investment and say it could help smooth the way to a substantive trade agreement between the two countries.

China’s ceremonial legislature passed a measure Thursday seeking to prevent Chinese officials from forcing U.S. and other foreign companies to turn over proprietary technology, a key sticking point in the trade fight between the two countries.

The U.S. has imposed tariffs on $250 billion worth of Chinese goods in an effort to force changes to a range of China’s economic policies.

Christopher Rugaber, The Associated Press

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