Published: Mon, April 02, 2018
Money | By Michele Stevens

Analyzing Trump's vendetta with Amazon

Analyzing Trump's vendetta with Amazon

In his usual morning round of tweets, President Donald Trump confirmed reports that he would go after Internet giant Amazon for "putting many thousands of retailers out of business".

Trump took to Twitter on Thursday, noting that he has stated his "concerns with Amazon" long before the presidential election.

Where Trump is correct: Amazon doesn't collect taxes on behalf of third-party vendors, and it still may not collect some local taxes, giving it an advantage over some traditional retailers, according to the Institute on Taxation and Economic Policy, a think tank.

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

Read Friday's Arkansas Democrat-Gazette for full details.

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Trump's latest assault on Amazon blamed the company for forcing other retailers out of business. The president is said to be "obsessed with Amazon", who he believes has gotten unfair tax benefits and preferential treatment from the US Postal Service.

Amazon shares, hit as broad decline in the tech sector over the firestorm following revelations of the hijacking of millions of Facebook users' personal data, rebounded Thursday with a gain of 1.1 per cent.

"Not only do Amazon packages cover their own costs", a source involved with the partnership told Benzinga, "but they help keep the overall service alive".

Trump's attacks on Amazon reflect a broader debate about its effect on the US economy.

Trump has also repeatedly tied Amazon to the Jeff Bezos-owned Washington Post, an outlet that's also a regular target of his tweets.

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But Trump's criticism of Amazon is not based in fact.

There's no word yet on when Amazon's checking accounts would go live, but we'll keep you posted.

"The president has said many times before he's always looking to create a level playing field for all businesses and this is no different and he's going to always look at different ways, but there aren't any specific policies on the table at this time", Sanders added.

But his attack on the company, ostensibly in defense of brick-and-mortar retailers, was misleading. But other megastores like Walmart share much of the blame for that.

Like other major publications, Trump has said the Washington Post publishes "fake news" in order to hurt his presidency.

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