Published: Fri, March 30, 2018
Money | By Michele Stevens

Trump vs. Amazon: Let's set the record straight

Trump vs. Amazon: Let's set the record straight

Trump tweeted Thursday: "I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!", Trump tweeted. "It's been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon". In one tweet last summer, he asked "Is Fake News Washington Post being used as a lobbyist weapon?"

"With Facebook and regulatory worries swirling round tech names, the last thing nervous tech investors wanted to see today was news that Trump is targeting Bezos and Amazon over the coming months", Ives wrote. Bank of America Merrill Lynch analyst Justin Post outlined the possibilities in his own note on Amazon stock. Loop Capital lifted their price objective on shares of Amazon.com to $1,600.00 in a report on Friday, February 2nd.

But judging from Trump's past tweets, there is a significant amount of evidence to suggest that the president is, in fact, "obsessed" with Amazon.

Shares are set to open down roughly 1%, near $1,418, Thursday.

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Skvortsova added that more than 50 people received outpatient medical treatment and were released for home treatment. In addition to long-standing safety violations, "it turns out that fire exits were blocked", Petrenko said.

The report claims that Trump wants to use antitrust laws to keep Amazon in check and to put a stop to its monopolised outlook of business.

Shah reiterated that Trump was not making specific policy changes.

White House Spokeswoman Lindsay Walters repeated that sentiment to reporters Thursday. "We have no actions at this time", she said.

In 2015, the president tweeted about the company five times-including one where he predicted Amazon would "crash" and "crumble like a paper bag" if the company "had to pay fair taxes". Jassy Andrew R also sold $2.90 million worth of Amazon.com, Inc.

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Madison, North Carolina-based Remington told investors on March 23 that it had negative operating cash flow of $7.4 million. That is partially because a larger percentage of guns in the US are owned by an increasingly small group of people.

To his credit, Trump has voiced his "concerns" with Amazon for years, as he said on Thursday. Alan Patricof, the legendary venture capitalist who has long supported Hillary Clinton and other Democrats, told CNBC this morning that Amazon is "taking over the whole retail world with what it's doing with small businesses". "Towns, cities and states throughout the US are being hurt - many jobs being lost!" Because of the company's extremely high share of the online sales market, the government might be able to argue that third-party sales must be regulated, but Post also notes that Amazon's retail margins remain low, which might hurt the argument. A ruling is expected by late June. When retailers ship goods to states where they don't have a physical presence, they do not have to charge sales tax. "He'd be supportive of such efforts". Trump has repeatedly taken issue with the company over sales tax, although the company does collect tax on the items it sells itself.

Citing unidentified sources, the Axios report said that Trump talks about changing Amazon's tax treatment - particularly how consumers' purchases on Amazon get taxed - "because he's anxious about mom-and-pop retailers being put out of business", and that the president believes Amazon "is killing shopping malls and brick-and-mortar retailers".

Mr Trump's charge that Amazon causes the United States Postal Service (USPS) to lose money is unsubstantiated.

The mail service is independently operated and strikes confidential deals with retailers.

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The Girls Trip star went on to that she told Beyonce she would handle the situation and "beat somebody's ass at [the] party". Chrissy Teigen has been on the hunt for the identity of the Beyonce biter and she too has not made their identity public.

"At the end of the day, the standard rule, the standard of care, is: Are consumers better off?"

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