President Trump is cracking down on counterfeit items sold on Amazon. This Rolex is real I swear!
Knock it off. Trump’s phase one trade deal with China is requiring both countries to fight the selling of knockoff merchandise.
- In 2018, the US confiscated 33,810 counterfeit goods.
- Online vendors who are caught selling their fakes, will be subject to civil fines and other penalties.
Fake-commerce. In an investigation from the Government Accountability Office, 47 products were bought from Amazon, Walmart, eBay, Sears Marketplace, and Newegg…. 20 ended up being knockoffs.
How does it affect my wallet?
No more fake Gucci. The Trump administration will be taking aim at the biggest e-commerce stores without discrimination.
- Amazon, Walmart, eBay, and Alibaba, are among the top companies to come under fire over third-party sellers ripping off name brands and consumers.
Bringing down a giant. According to a report from the Organisation for Economic Co-operation and Development in 2016, the knockoff market was worth a whopping $461 billion in 2016.
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