President Trump Not Targeting Bezos Over WP Ownership

President Trump Not Targeting Bezos Over WP Ownership

President Trump Not Targeting Bezos Over WP Ownership

$AMZN

  • President Trump believes that Amazon is unfair to America’s retailers

US Treasury Secretary Steven Mnuchin said Donald Trump’s attacks on Amazon.com Inc. (NASDAQ:AMZN) have nothing to do with critical coverage of the White House by the Washington Post, owned by Amazon’s CEO, Jeff Bezos.

Secretary Mnuchin said that the administration is “in discussions with the Post Office and looking at that.”

President Trump has complained that Amazon does not pay the US Postal Service enough to deliver its packages.

Friday, White House Press Secretary Sarah Huckabee Sander said, “I’m not aware of anything specific taking place on Amazon but we are looking at ways to help the Post Office modernize.”

The US Treasury Secretary said the President’s criticisms of Amazon are based on concerns the Seattle-based Internet retailer and 3rd-party sellers that use its website compete unfairly with small businesses.

The President has assailed Amazon and its business practices in a series of Tweets and public statements since 29 March, criticizing its delivery contract with the US Postal Service and its tax practices.

The attacks raised MSM speculation that President Trump’s true concern is Mr. Bezos’ ownership of the Washington Post, which aggressively and critically covers him and his Administration.

“They have absolutely dominated the retail business,” Secretary Mnuchin said. “They have put tons of retailers out of business, so that is what the President is really focused on.”

While Amazon pays sales taxes in every state that levies them, 3rd-party vendors that sell through the Amazon website sometimes do not.

 “We do not think that makes sense,” Secretary Mnuchin said. “It is unfair relative to the retailers.”
Symbol Last Trade Date Change Open High Low Volume
NASDAQ:AMZN 1405.23 6 April 2018 -46.52 1429.97 1452.5 1400.26 5,882,200
HeffX-LTN Analysis for AMZN: Overall Short Intermediate Long
Neutral (0.08) Neutral (-0.20) Neutral (0.07) Bullish (0.38)

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