Trump aims to block Amazon, Ebay and others for sale of counterfeit goods

In an effort to curb sales of counterfeit products to American consumers, President Donald Trump signed a memorandum today to warn big companies such as Amazon, Ebay, and Alibaba from doing so.

In a Memorandum on Combating Trafficking in Counterfeit and Pirated Goods, the Trump administration says, “Counterfeit trafficking impairs economic competitiveness by harming United States intellectual property rights holders and diminishing the reputations and trustworthiness of online markets; cheats consumers and poses risks to their health and safety .”

It is unclear exactly how this memorandum will be enforced, however, the it aims to identify appropriate guidance, regulatory, and other changes including enforcement to curb the sale of counterfeit products. It will most likely be supported by a wide swath of businesses in America who have suffered financially under a wild west atmosphere of counterfeit products that have been sold by third parties at large e-commerce sites like Amazon. This has placed many reputable manufacturer and wholesale distributors at risk due to lower priced and lower quality fake products on the market, leading to loss of sales and negative reviews.

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Categories: Business, Economy, political, Top Stories

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