US Justice Department official: China accounts for disproportionate share of trade secret cases

"It is understood that consulates will conduct some intelligence activity but this can be exploited," a senior official for the US Justice Department said on Friday, per Reuters. "China's Houston consulate activity went well over the line of what we can accept."

Additional takeaways

"Activity at Houston consulate, while illegal, not necessarily amenable to criminal charges, given diplomatic immunity."

"Malign activities by Chinese consulates not specific to Houston but it was one of the worst offenders."

"Houston consulate action linked to coronavirus research."

"US' Chengdu consulate's activity is about messaging to Chinese people."

"Activity at China's Houston consulate not unlike what we have seen all over the country."

"China accounts for a disproportionate share of trade secret cases."

Market reaction

These comments don't seem to be having a significant impact on the USD's performance against its rivals. As of writing, the US Dollar Index was at its lowest level since September of 2018 at 94.42, losing 0.38% on a daily basis.