The US added e-commerce sites operated by Tencent Holdings and Alibaba on the American government’s ‘notorious markets’ list. Here’s what’s happening.
The US adds Tencent and Alibaba to the ‘notorious markets’ list
On Thursday, the U.S. Trade Representative’s (USTR) office identified 42 online and 35 physical markers to the ‘notorious markets’ list. They are reported for engaging or facilitating copyright privacy or trademark counterfeiting. “This includes identifying for the first time AliExpress and the WeChat e-commerce ecosystem, two significant China-based online markets that reportedly facilitate substantial trademark counterfeiting,” stated the USTR office.
Major names on the list include Baidu Wangpan, Taobao DHGate, and Pinduoduo along with nine other physical markets in China. In a separate statement, the USTR office released that the US needs to start pursuing new ways and update the existing domestic trade tools. This will help in dealing with China‘s “state-led, non-market policies and practices”.
What are the companies doing?
As a reply, Tencent said that they are “committed to working collaboratively to resolve this matter”. The firm added that they are actively monitoring, deterring, and acting upon violations on its platforms. Tencent has also invested its resources into protecting intellectual property rights. On the other hand, Alibaba stated that it will continue working with government agencies to address the concerns. They added that they are focused on protecting intellectual property across its platforms.
China and the United States have been engaging in trade tensions for several years over issues such as technology and tariffs among others. Intellectual property is one such topic. The US also revealed that China was failing to keep up with the “Phase 1” of their trade agreement signed by the administration during President Trump’s era.
