President Donald Trump, in a new memo, has ordered a crackdown on counterfeit products on third-party online marketplaces, seeking more information on how such sales can be better tracked and curbed. The annual value of global trade in counterfeit and pirated goods may rise to $500 billion, with a fifth infringing upon US intellectual property, said the memo.
The memo did not identify specific companies by name.President Donald Trump, in a new memo, has ordered a crackdown on counterfeit products on third-party online marketplaces,seeking more information on how such sales can be better tracked and curbed. The annual value of global trade in counterfeit and pirated goods may rise to $500 billion, with a fifth infringing upon US intellectual property, said the memo.#
Leading online retailers have welcomed the initiative.
The order requires the homeland security department, together with the departments of commerce and justice, to offer recommendations in 210 days on how to address the problem through better monitoring and enforcement, White House advisor Peter Navarro said. (DS)
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