Chinese President Xi Jinping and President Obama have agreed on steps to curb cyber spying. Bobbi Rebell reports.
President Obama says he and Chinese President Xi Jinping have reached a "common understanding" on steps to curb cyber spying. The two met at the White House on Friday. Obama saying both governments agreed not to conduct economic espionage in cyberspace. SOUNDBITE: U.S. PRESIDENT BARACK OBAMA (ENGLISH) SAYING: "I raised, once again, our rising concerns about growing cyber threats to American companies and American citizens. I indicated that it has to stop," U.S. officials say the Administration is considering slapping sanctions against Chinese companies and individuals for cyber attacks against American companies. Samm Sacks is a China analyst at Eurasia Group: SOUNDBITE: SAMM SACKS, CHINA ANALYST, EURASIA GROUP (ENGLISH) SAYING: "The fact that Beijing agreed to not, agreed that China will not tolerate cyber enabled economic theft that will benefit commercial entities is something that I don't think anyone expected them to come to the table with and this was only made possible because of the threat of U.S. sanctions. " The leaders also laid out a joint vision for a global climate agreement. China pledged it'll launch a national carbon cap-and-trade system in 2017. Obama also pressed Xi to follow through on economic reforms and stop discriminating against U.S. companies in China. The Chinese leader reassured Obama he'll improve cooperation: SOUNDBITE: CHINESE PRESIDENT XI JINPING (CHINESE WITH ENGLISH TRANSLATION) SAYING: "China and the United States are highly complimentary economically." Earlier in the week President Xi's visit to Seattle coincided with announcements of Chinese deals involving Boeing, Microsoft, and Cisco Systems.