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U.S. President Trump on Wednesday ordered a crackdown on counterfeit products sold in third-party online markets, demanding more information on how the United States can strengthen tracking and curbing such sales.
According to the memorandum signed by Trump, Global trade in counterfeit and pirated goods could rise to $500 billion annually, of which about 20% infringe American intellectual property rights.
"The president has decided that it is time to clean up this rampant fraud and counterfeiting," Peter Navarro, director of the National Trade Commission, said in a conference call with reporters.
Some companies, including Amazon (AMZN.O), eBay (EBAY.O) and China's Alibaba Group (BABA.N), have policies to ban the sale of counterfeit goods on their platforms and invest in preventive measures to exclude counterfeit and inferior goods.
The memorandum did not mention specific companies.
"Amazon has invested heavily in preventing counterfeit goods from entering our platform. In 2018, we spent more than $400 million on counterfeiting, fraud and other violations, "a spokesman for Amazon said Wednesday.
Alibaba said in its statement that it welcomed the initiative "and the attention it has aroused in the global fight against counterfeiting".


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