Mark Cuban is on a mission, and Vice President Kamala Harris seems ready to help. Cuban posted on X (formerly Twitter) that he recently spoke with Harris’ team about an issue close to his heart: protecting American businesses from Chinese knockoffs.
In his post, Cuban called knockoffs “a plague on small businesses” and explained their serious impact. “They cost them time, money and may even put them out of business,” he warned. For many small business owners, it feels like playing an endless game of whack-a-mole, where counterfeit products keep popping up.
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Cuban raised an interesting question in his post: "Should we require marketplace platforms to vet all foreign manufacturers selling to USA consumers?" It’s a tough nut to crack, but Cuban is looking for suggestions on the best approach.
He didn't share further details about his conversation with Harris' team or any specific strategies discussed, leaving many curious about what's next.
Counterfeiting has been a growing problem in the age of online shopping. According to the Office of the Intellectual Property Enforcement Coordinator, knockoffs cost American companies more than $200 billion annually. That's a staggering number—and it's not just about money. Over 750,000 jobs have been lost due to fake products flooding the market.
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China has been singled out as the top offender. Last year, a report from the Office of the U.S. Trade Representative showed China is the leading source of counterfeit goods seized by U.S. Customs. That fact isn't lost on Cuban, who seems ready to take action.
In his post, Cuban emphasized that Vice President Harris is also laser-focused on supporting American businesses and ensuring they're not facing unfair competition abroad. “Kamala is focused on supporting and protecting American companies from unfair foreign competition. Let me know what suggestions you have!” Cuban wrote, inviting others to join the conversation.
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Cuban and Harris' teams have yet to comment on the details of their conversation. But this isn't the first Cuban publicly aligned with Harris' economic plans. The “Shark Tank” star has been a vocal supporter of Harris since she took over as the Democratic nominee from President Biden, frequently praising her pro-business stance.
"I talk to them. I tell them I’m going to say what’s on my mind," Cuban revealed in an earlier interview with Axios, referring to his open discussions with Harris’ team. “They say as long as you say you don’t speak for us, go for it.”
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Cuban's support for Harris even extends to health care. He’s been pushing to lower drug prices through his company Mark Cuban Cost Plus Drugs, which aims to offer affordable medications online. His efforts align with Harris' previous promise to take on "pharmacy middlemen" as part of her economic agenda.
During a September interview on CNBC's “Squawk Box,” Cuban went even further, calling Harris the most pro-business leader he's ever seen. “She’s talked more about entrepreneurs and helping them have access to investment than any president I've heard,” he told host Andrew Ross Sorkin.
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