The US has added Alibaba and Tencent, two of China’s largest technology firms, to its ‘Notorious Markets List,’ according to BBC News.
The Notorious Markets List identifies over 40 online sites and 35 stores run by the firms which it believes trade counterfeit goods.
This is one of the latest moves by the US in the long-disputed row over trade and technology between China and America.
The US trade agency stated that the two companies “engage in or facilitate substantial trademark counterfeiting or copyright privacy.”
Other websites, such as Baidu Netdisk, DHGate, Pinduoduo and Taobao are also listed.
China is the world’s biggest trader of fake goods, constituting 85% of the USD465 billion-dollar industry, and helping to make the fake goods market a bigger contributor to the global economy than the illegal drug trade.
In September 2021, police in Wuhan detained a couple for making more than 800 bottles of homemade baijiu and selling it as Kweichou Moutai.
[Cover image via Weibo/@新浪科技]