Counterfeits cost jobs: The real threat of fake products

Fake and counterfeit products cost the U.S. $131 billion and 325,000 jobs in 2019, according to the National Association of Manufacturers (NAM). “COVID-19 has provided new opportunities for counterfeiters to prey on consumers’ anxiety and use the high demand for online goods to boost their illicit profits ‒ all at the expense of American workers, consumers and businesses,” said NAM Senior Vice President of Policy and Government Relations Aric Newhouse. To fight this growing problem, NAM released its latest research, Countering Counterfeits, to provide solutions for Congress, the administration and the private sector.