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USA Vows to crackdown on Counterfeits

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USA Vows to crackdown on Counterfeits

April 09
04:14 2019

President Donald Trump issued a presidential memorandum on Wednesday 3rd April aimed at combating the trafficking of pirated and counterfeit goods.

Peter Navarro, director of the White House National Trade Council, said in a call with reporters that the memo will aim to target “trafficking through third-party online marketplaces.”

These marketplaces, he said, include “Alibaba, Amazon, and eBay.”

The counterfeiting pandemic is a reality for all of us as consumers, as well as for manufacturers of high-value products and brands, with the global forgery market now estimated at US $2.2 trillion (~€1.9 trillion) – the equivalent of about 15 percent GDP.

EU Commissioner for Trade Cecilia Malmström said that IP infringements “are a scourge on the European economy, decreasing investment and government revenues, and killing jobs in our creative and innovative industries.”

She continued: “They also pose a significant risk to our citizens who often simply do not know whether what they are buying is safe or not. Furthermore, the link between counterfeiting and organised crime poses a major threat to our society.”

According to the European Union Intellectual Property Office (EUIPO) and the OECD, trade in counterfeit and pirated products amounts annually to around €338bn (around $385bn) worldwide.

The EU is particularly affected, with counterfeit and pirated products amounting up to around 5 percent of all imports or as much as €85bn a year.

As a result, declining trust is a major reputational issue of our time. Most companies that produce any sort of product with a premium brand are under attack from counterfeiters, which is undermining the value customers place in their brands. Counterfeiting is prevalent in everything from leading clothing and consumer goods brands to car parts and alarmingly, even safety equipment.

Modern counterfeiting concerns

More recently, counterfeiting has spread from common consumer items into industrial applications including medicine and supplements. Many of these counterfeit products also pose serious health and safety concerns for users.

A noticeable illustration for this is within the medicine and supplements industries, which are increasingly being counterfeited in mass quantities, posing a serious economic threat to an otherwise rapidly growing market. Counterfeited and out of date medication – used in all aspects of modern health can not only result in having your health being damaged, but also cause death which pose severe risks to both humans and the society alike.

GEBE CERT

Hong Kong  tech company GEBE CERT is at the forefront of brand protection, helping companies in these industries tackle counterfeiting with its proprietary and unique end-to-end marking, tracking and chip technology.

The company has developed a new generation of security Chips, using unique HF technology and blockchain data storage. Its GBCSL security chips utilise chips, tags, and other packaging materials to create infinite unique ID for each product. These chips can be inserted directly into product, and/or  packaging material, enabling manufacturers to discreetly mark packaging but also always the consumer to be able to check the products before purchasing without affecting the properties or appearance of the tagged product, hence making the solution seamless for brands and consumers. Featuring multiple layers of security, GEBE CERT cannot be identified nor replicated.

Adopting a cutting-edge anti-counterfeiting process

For consumers, GEBE CERT can provide comfort to consumers that they will be protected by an authentic product. Easily incorporated into existing manufacturing processes in packaging. GEBE CERT technology makes it economical for brands to adopt cutting-edge anti-counterfeiting process and change the life of consumers and the business outlook of leading brands.

For more information, visit: www.gebecert.com

Media Contact
Company Name: GeBe Group
Contact Person: Nicholas Williams
Email: Send Email
Country: HongKong
Website: www.gebecert.com

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