Shark Tank’s Mark Cuban wants to take out Chinese knockoffs, says Kamala Harris agrees
In February 2022, the US called China the top country of origin for counterfeit goods seized by US customs
In an X post on Wednesday, Cuban said he had an “interesting conversation with the @KamalaHarris team about protecting American companies from Chinese Knockoffs”.
“Knock-offs are a plague on small businesses, that costs them time, money and may put them out of business. Right now all marketplace platforms do is help them play whack-a-mole. Which I don’t believe is enough,” Cuban said.
“Should we require marketplace platforms to vet all foreign manufacturers selling on marketplaces selling to USA consumers. Any suggestions on best approach?” he added.
Cuban did not say when the conversation took place, or what further strategies were discussed.
Counterfeiters have found a way to capitalise on the rise of online shopping platforms. According to a report by the Office of the United States Intellectual Property Enforcement Coordinator, knockoffs cost US businesses more than US$200 billion a year and contribute to 750,000 jobs lost.
