President-elect Donald Trump speaks during a meeting with technology industry leaders at Trump Tower in New York, Wednesday, Dec. 14, 2016. He didn't deny that he has a problem with Amazon, quite the opposite.
The Federal Trade Commission quickly gave its blessing to Amazon's acquisition of Whole Foods Market, an indication that the company was far from triggering serious antitrust concerns. "Unlike others, they pay little or no taxes to state and local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the US), and are putting many thousands of retailers out of business!", Trump said in a tweet.
Ultimately, that proposition won't change, said Peterson, and it's unlikely that Amazon Prime members, who are considered the best and most loyal Amazon customers, will change their buying habits. Or is it something to do with the CEO and founder of Amazon, billionaire Jeff Bezos?
Trump has talked about using antitrust law to "go after" the company because he is anxious about mom-and-pop retailers being put out of business by Amazon, Axios reported, citing five sources it said had discussed the issue with him.
The report claims that the president's wealthy, real estate friends are telling him that Amazon is killing traditional shopping malls and high street retailers.
Trump does not have any new policies planned that would affect Amazon, a White House official said on Thursday, adding that Trump was prompted to speak out on the subject in reaction to news reports this week.
Kevin Hassett, chairman of the White House Council of Economic Advisers, told Fox Business Network's Stuart Varney that Trump favours a "level playing field between internet venders and mom-and-pop stores", a statement that echoes some of the rhetoric in the upcoming case.
The clarification, however, wasn't enough to reassure Amazon investors. Some of that money would presumably go to the Postal Service, which in 2014 handled 40 percent of Amazon's packages, according to one 2015 estimate.
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"Singling out favorite Trump villains like Amazon is a distraction from our bipartisan effort". First, the allegation that the company doesn't pay its fair share of taxes.
"I have stated my concerns with Amazon long before the Election", Trump tweeted Thursday.
What about Donald Trump's claim that Amazon is a burden on the U.S. postal system? The postal service's contract with Amazon must be approved by regulators and must generate a profit for the service. Although the service is certainly losing money, the delivery of packages increased by 589m in 2017, which can be partially accredited to Amazon.
It's well established that the online retail giant has grown at the expense of brick-and-mortar shops. Internet shoppers have countless websites to choose from.
"This is something we have never seen", Suresh Kotha, a professor of management at the University of Washington's Foster School of Business, said of Trump's reported comments. It is well known that there is a personal feud between Trump and Amazon founder Jeff Bezos, who now also owns The Washington Post. Its journalists frequently break stories that are critical of the White House.
How outdated? In 2012, Amazon began collecting and paying state taxes in California. The almost $700 billion (market cap) retailer has more than a half million employees, maybe two-thirds or more of U.S. households are Prime members, and the company sports a plus-60% approval rating.
The retailer and cloud computing pioneer is the latest company Trump has singled out for praise or condemnation, although the effect on stock prices of his targets is generally short-lived.