Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Trump signs executive order aimed at preventing sales of counterfeit goods from overseas

Stock MarketsFeb 01, 2020 01:09AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

WASHINGTON (Reuters) - President Donald Trump signed an executive order on Friday aimed at preventing counterfeit products from abroad from being sold to U.S. citizens who shop online using Amazon.com (NASDAQ:AMZN), Walmart (NYSE:WMT).com or other ecommerce websites, the White House said.

Presidential trade adviser Peter Navarro urged Amazon, Walmart and digital commerce sites to take steps to ensure that the goods they sell are safe and legal.

"If they don't, DHS will take steps to ensure they do," he told reporters, referring to the Department of Homeland Security.

Part of the policy was aimed at preventing narcotics, like fentanyl, from entering the United States at a time when the country is fighting widespread opioid addiction, the order said.

As part of the order, the president asked DHS to "consider appropriate measures" to ensure that companies that sell products from overseas do not ship knockoffs, which they have argued can damage the U.S. economy, cost American jobs, support criminal activity and potentially harm consumers.

The president also asked DHS to draw up rules to help identify companies that were suspended from importing into the United States, and sought to evade those suspensions.

Additionally, the order asks DHS to draw up rules to identify companies that have a high rate of contraband among their shipments. Those with high rates may face more onerous inspections, the order said.

"The trafficking of counterfeit and pirated goods is a scourge that causes significant harm to our workers, consumers, intellectual property owners, and economy," U.S. Trade Representative Robert Lighthizer said in a statement.

He said Trump had made intellectual property protection and enforcement against pirated and counterfeit goods a priority in America’s trade relationships, with intellectual property rights a key part of a new North American trade agreement and the first phase of a U.S.-China trade deal.

A Walmart spokesman said in a statement that the company takes reports of counterfeit goods very seriously and works proactively to prevent them.

"In the rare case that someone reports what they believe is a counterfeit item, we quickly block the item and then investigate promptly," the Walmart statement said. "Today, we only see this on a very small fraction of less than one percent of total items available for sale on Walmart.com.”

Customs and Border Protection, an arm of DHS, seized 27,599 shipments with intellectual property rights violations in the fiscal year ended Sept. 30, 2019. If those products had been genuine, they would have had a combined retail value of over $1.5 billion, the agency said in its annual report on trade and travel.

Trump signs executive order aimed at preventing sales of counterfeit goods from overseas
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (6)
Thomas Smith
Thomas Smith Feb 02, 2020 1:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks 45. Makes Dems cry forever!
Jon Benton
Jon Benton Feb 01, 2020 6:03AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Then he'd better take that dead cat off his head and get a toupee
Triplicis Mundi Summum
Triplicis Mundi Summum Jan 31, 2020 11:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
About time!
Chris Martin
Chris Martin Jan 31, 2020 7:30PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Democrats should maintain border security. They, like China wait to see, poll, then discuss results before taking action.
Chris Martin
Chris Martin Jan 31, 2020 7:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The Democrat party has their hand in the till with this. They ALLOW human trafficking as well not addressing the border, credentials or whether strain be put on our nation.
Jon Benton
Jon Benton Jan 31, 2020 7:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What took so long ?! Here comes Joe Cult ?!
Chris Martin
Chris Martin Jan 31, 2020 7:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You change your name?
Chris Sundo
Chris Sundo Jan 31, 2020 7:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
He is finally focussing on what counts, a few months before the reelection circus. Fake leaders focus on what really counts for the benefit of the people for only the minimum duration while they are on the chopping board, right before an election ... A sad state of affairs --- Fire Fake leaders, don't reelect them!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email