BRUNSWICK, ME – U.S. Senator Angus King (I-Maine), a member of the Senate Intelligence and Armed Services Committees, today released the following statement after the White House announced a new cyber-security agreement with China:

“This is a positive first step for what has been a very complicated and, at times, combative issue for our two countries,” said Senator King. “Cyber-crime has a serious and substantial impact on our economy, and both the United States and China would benefit from the establishment of rules that provide mutual protection from cyber-intrusions.  I am encouraged this announcement moves us in that direction, and I will press to see that the agreement is both implemented and enforced.”

Under the agreement announced by the White House today, the United States and China agreed to establish a high-level joint dialogue and establish a hotline on cyber-crime.  Additionally, China has for the first time recognized that countries should not conduct computer espionage to steal intellectual property to benefit its own companies.  In an open Senate Intelligence hearing yesterday, Senator King questioned Admiral Michael Rogers, the head of U.S. Cyber Command and Director at the National Security Agency, about U.S. offensive cyber capabilities and the possibility of an international cyber nonproliferation treaty.

In 2014, the Center for Strategic and International Studies (CSIS) found that the annual cost to the global economy from cyber-crime is more than $445 billion, including both the gains to criminals and the costs to companies for recovery and defense.  Losses from cyber-crime could translate into more than 200,000 jobs lost in the U.S.  And in its 2013 technology survey, the National Small Business Association found that 44% of 845 small business owners said their business has been targeted by some form of cyber-intrusion. 

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