Trump orders crackdown on counterfeit sales online
President Donald Trump on Wednesday ordered a crackdown on counterfeit products on third-party online marketplaces, asking for more information on how the United States can better track and curb such sales.
The memo signed by Trump said that the value of global trade in counterfeit and pirated goods may rise to half a trillion dollars a year, with about 20 percent of this trade infringing upon U.S. intellectual property.
"The president has decided it is time to clean up this Wild West of counterfeiting and trafficking," White House economic adviser Peter Navarro said on a conference call with reporters.
Companies like China`s Alibaba Group Holding Ltd, Amazon.com Inc and eBay Inc have policies that ban counterfeit goods and have pointed to their investments in programs to keep fakes off their platforms.
The memo did not identify specific companies by name.
"Amazon invests heavily in proactive measures to prevent counterfeit goods from ever reaching our stores. In 2018 alone, we spent over $400M fighting counterfeits, fraud, and other forms of abuse," an Amazon spokesperson said on Wednesday.
The move comes as Trump and his economic advisers are locked in trade talks with China that the president says aims to reduce the theft of U.S. intellectual property.
The order requires the Homeland Security Department, together with the departments of Commerce and Justice, to provide recommendations in 210 days on how to address the problem through better monitoring and enforcement, Navarro said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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