- President Donald Trump is signing a memorandum aimed at curbing online sales of counterfeit goods.
- It’s aimed at stopping the sale of these goods on sites like Amazon, Ebay, and Alibaba.
WASHINGTON (AP) — President Donald Trump is signing a presidential memorandum aimed at curbing what the administration is calling the "Wild West" of online trafficking in counterfeit goods.
The memorandum is aimed at stopping the sale of counterfeit products on sites like Amazon, Ebay and China’s e-commerce leader, Alibaba.
Peter Navarro directs the White House National Trade Council. He says that last year when Government Accountability Office investigators bought brand-name goods from popular consumer websites, more than 40% turned out to be counterfeit.
Navarro told reporters Wednesday that the memorandum has nothing to do with the U.S.-China trade talks or Trump’s criticism of Amazon owner, Jeff Bezos. Trump has accused Amazon of not paying its fair share of taxes, harming the U.S. Postal Service and putting brick-and-mortar stores out of business.
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Source: Business Insider –