Trump Fires Off, Says Amazon Doing 'Great Damage' to Retailers

Share

U.S. President Donald Trump on Wednesday criticized Amazon.com on Twitter over taxes and jobs and accused the global retailer, without offering evidence, of hurting U.S. localities and causing job losses.

Trump has also previously mentioned Amazon's tax payments, accusing it of not paying its fair share to get an advantage over other retailers.

Amazon stock was down 0.5%, near 977.70 during morning trading in the stock market today.

In January, Amazon announced that it planned to create more than 100,000 new United States jobs over the coming 18 months.

Trump's tirade against Amazon, Bezos and the Washington Post ticked up this summer, when Trump tweeted about the three seven times in six weeks.

Wenger confirms Oxlade-Chamberlain Arsenal stay amid £35m Chelsea interest
Alex Oxlade-Chamberlain and Jack Wilshere have entered the final year of their Arsenal contracts. I know when I signed for two years at Arsenal , it's a contract and I have to respect it.

United Kingdom seeks new Customs union after Brexit
It said "immigration controls are not, and never have been, exclusively about the ability to prevent and control entry at the U.K.'s physical border".

MoviePass drops monthly price of unlimited movies to just $10
Everyone knows that the cost of going to the movies is going up all the time and it is really expensive to enjoy a night out. At the national average ticket price, it would cost you more than $250 per month to see a different movie every day.

"The #AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!"

The e-commerce company does collect state sales taxes in Washington, D.C., and 45 US states that have such a levy, the company said on its website. The Washington Post, which Bezos owns directly, has written numerous critical pieces about Trump.

"I have respect for Jeff Bezos, but he bought The Washington Post to have political influence, and I gotta tell you, we have a different country than we used to have", Trump said during a campaign trail speech.

Amazon is not the only company to feel the backlash from the president's tweets.

However, last week it appeared Mr Trump's power to sway the markets may be lessening after an attack on Merck chief executive Ken Frazier failed to shift the pharmaceutical company's share price. Amazon does pay taxes and since March has been collecting sales taxes on purchases in all 50 states.

Share