Additional Coverage:
- Mark Cuban wants to take out Chinese knockoffs, and he says Kamala Harris is on the same page (newsbreak.com)
Billionaire Mark Cuban is teaming up with Vice President Kamala Harris’s campaign to combat Chinese knockoffs that threaten American businesses.
Knockoffs have become a major problem for small businesses, costing them billions of dollars and putting their livelihoods at risk. Cuban believes that online marketplaces are not doing enough to prevent the sale of counterfeit goods.
Cuban is asking for suggestions on how to tackle this issue. He proposes requiring marketplaces to vet foreign manufacturers and exploring other approaches.
According to government reports, counterfeit goods cost U.S. businesses over $200 billion annually and result in job losses. China is the leading source of these knockoffs.
Cuban has been a vocal supporter of Harris’s economic agenda, particularly her plans to lower drug prices. He believes that Harris is a pro-business candidate who supports entrepreneurs and startups.