
Crypto Investment Entry and Exit Strategies of Institutional Investors
Section: Business
The Bundesrat, Germany's federal council, has recently passed a resolution aimed at enhancing consumer protection in online shopping. This move, initiated by the state of Baden-Württemberg, proposes that online platforms like Amazon, Shein, and Temu should be held liable for non-compliant products unless they can prove the existence of a responsible economic actor based within the European Union.
To better regulate online commerce from third-party countries, the council emphasized the necessity of imposing full liability on the operators of e-commerce websites and marketplaces. In extreme cases, the Bundesrat noted that entire platforms could face suspension until all non-compliant listings are removed.
Additionally, the resolution mandates that online marketplaces must provide clear and conspicuous information to consumers regarding the company's location, return address, and any potential costs associated with returns. This information should be easily accessible before a purchase is made, ensuring that consumers can make informed buying decisions.
Currently, products that do not meet European standards are often destroyed by customs due to violations of environmental and health regulations. The Bundesrat insists that online commerce should be monitored with the same rigor as traditional retail to ensure fair competition between EU-based sellers and those from outside the region.
The federal government is urged to advocate for the swift removal of the EU's customs duty exemption threshold of 150 euros. Strengthening customs and safety checks is seen as a critical step towards creating equitable market conditions for European businesses.
The Bundesrat has also raised concerns about consumers' ability to exercise their warranty rights effectively when dealing with defective products. Many consumers find it nearly impossible to identify or contact the actual provider, as platforms typically function merely as intermediaries. Therefore, it has been suggested that the government explore the possibility of tightening the due diligence obligations imposed on these platforms. The proposed Digital Fairness Act could serve as a suitable framework for these adjustments.
While the original proposal from Baden-Württemberg included more stringent regulations, such as a return tax on necessary returns and a general warning on platforms regarding the enforcement of EU product safety and consumer protection regulations, these suggestions were deemed excessive by a majority of states.
Section: Business
Section: Arts
Section: Arts
Section: Business
Section: Business
Section: Arts
Section: Health
Section: Arts
Section: News
Section: News
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