From NY Times article on proposed tariffs:
“Placing tariffs on products like ours (in particular handbags) that are not at risk for intellectual property theft in manufacturing, and are not related to the China 2025 plan, will only ennoble the bad actors in the Chinese economy who pose a genuine threat to our business via bad faith registrations of our recognized trademarks.”
— Written request to testify from Rebecca Minkoff
Chinese counterfeiting is a huge financial problem for luxury handbag, shoe and other retailers, who collectively lose billions of dollars each year as a result of knockoff versions of their products that are produced in China and sold globally. Companies say the tariffs will simply make their products more expensive to produce and give counterfeiters a bigger leg up in the marketplace.