President Trump's Attempt to Combat Luxury Counterfeits

President Trump wants to add the trafficking of pirated and counterfeit goods on a 'ban-list.'

He issued a presidential memorandum hoping to combat pirated and counterfeit goods trafficked through third-party online marketplaces.

The goal of the memo is to zero-in on suppliers coordinating the sales of the goods and further collect data related to the counterfeit supply chain, especially online sales.

The memo instructs the Department of Homeland Security to compose a report with recommendations within 210 days.

Amazon recently announced their plans to eliminate counterfeit merchandise under "Project Zero.' They developed technology that would detect fakes and having access to remove counterfeit listings.

The Organisation for Economic Co-operation and Development announced last month that its new report found that trade in counterfeit goods "has risen steadily in the last few years to 3.3% of global trade."

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