In Case You Forgot, Trump Still Hates Amazon


Mr Trump accused Inc of not paying enough tax, taking advantage of the United States postal system and putting small retailers out of business, but did not present any evidence to back up his criticisms or suggest any specific actions he planned to take.

In a tweet posted just before 7 a.m., Trump said that he had stated his concerns about Amazon since "long before the election" and that "unlike others", the company pays little to no state and local taxes and is "putting many thousands of retailers out of business!" Last August, one of Trump's tweets resulted in a $5 billion stock decline.

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Some states have already implemented laws to specifically address the tax issue when it comes to third-party sellers. Amazon released a statement in 2017 that said, "The Postal Regulatory Commission has consistently found that Amazon's contracts with the USPS are profitable", Fortune reported.

Amazon a year ago announced plans to open a second headquarters as a companion to its home in Seattle, Washington, setting off a frenzied competition by states and cities offering tax breaks to the tech giant. The newspaper has run a steady stream of negative stories about Mr Trump since he launched his presidential campaign in 2015. His apparent beef is that Amazon does not pay enough taxes, (supposedly) uses the US Postal Service at the nation's expense, and drives other retailers out of business., Inc. (NASDAQ:AMZN) announced that the company is considering rolling out a new type of checking accounts aimed at teens.

Jeff Bezos' behemoth needs all the help it can get, given the new threat posed by the White House.

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"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", said White House spokeswoman Sarah Sanders, when asked about the Axios report.

Much of Trump's distaste for Amazon is because CEO Jeff Bezos also owns the Washington Post, whose coverage the president frequently criticizes.

It's a loophole that doesn't impact Texas, but could put cities in those seven states at a bigger loss if the Supreme Court rules that online sales taxes can be levied across the board, without a physical presence test.

The president's criticism of Amazon have previously sent its stock price plunging. The Postal Service loses tons of money every year, even without Amazon.

However, it has been Amazon that has massively changed that situation, with people moving away from visiting stores and increasingly buying their goods online, having them delivered to their door.

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

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