Rep. Ken Buck (R-Colo.) on Tuesday reintroduced legislation that would set into law the denial of export privileges against nations that steal American intellectual property, with the bill part of a broader legislative thrust to counter the Chinese Communist Party (CCP). “What Americans innovate, China steals. China’s long history of intellectual property theft costs the United States billions of dollars each year. My bill combats China and other hostile nations’ ability to steal our intellectual property and do untold harm to our economy,” Buck said in a statement. Buck noted in the release that the Commission on the Theft of American Intellectual Property has estimated that intellectual property theft costs the U.S. economy $600 billion per year, with China’s communist regime the world’s main source of intellectual property theft. He cited John Demers, the head of the National Security Division at the Department of Justice, as saying that over 80 percent of …