The Obama administration has announced charges against five members of the Chinese military for economic espionage against U.S. companies, including Westinghouse, Alcoa and United States Steel. Attorney General Eric Holder accused the officers of stealing trade secrets to benefit state-owned companies.

Eric Holder: “All nations are engaged in intelligence gathering. What I think distinguishes this case is that we have a state-sponsored entity, state-sponsored individuals using intelligence tools to gain commercial advantage. And that is what makes this case different.”

China has denounced the indictment and summoned U.S. Ambassador Max Baucus. The United States has denied engaging in economic espionage, despite reports from Glenn Greenwald and others about its efforts to spy on economic targets, from global conferences to the Brazilian oil firm Petrobras. The charges came as a new report by The Intercept reveals the United States is secretly recording virtually every cellphone call in the Bahamas. We’ll speak with the report’s co-author Ryan Devereaux later in the broadcast.