USA/CHINA : US-China trade deal to cover fake product trade via online retail platforms

The ‘phase one’ deal – signed on January 15 by President Donald Trump and Chinese vice-premier Liu He -comes after years of negotiation and calls a truce in a long-running trade war between the two countries.
The near-100-page document opens with a 16-page chapter on intellectual property (IP), reflecting the US’s often-repeated assertion that Chinese companies are the source of much of the fake and pirated goods, patent infringement and trade secret theft that impacts US companies.
Among the provisions is an agreement for the two countries to work together to prevent piracy and counterfeiting on e-commerce platforms like Alibaba’s Taobao and Amazon. China has pledged to require “expeditious” takedowns of listings for fake products and allow more time for brand owners to file online infringement complaints. China has also agreed to revoke the operating licenses of e-commerce platforms that repeatedly fail to curb the sale of counterfeit or pirated goods. The US, meanwhile, has also agreed to investigate “additional means” to fight the online sale of these products. The agreement also calls for China to generate an action plan within 30 days to implement its commitments, as well as the date each will go into effect.
There are also specific pledges in the area of fake pharmaceuticals and other goods that pose health and safety risks. China says it will take swift enforcement action in cases of fake medicines, active pharmaceutical ingredients and bulk chemicals, such as excipients.

Source : www.securingindustry.com

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