Friday 27 April 2018

Trump goes after one of his favourite targets, Amazon

U.S. President Donald Trump. Photo: Andrew Harrer/Bloomberg
U.S. President Donald Trump. Photo: Andrew Harrer/Bloomberg
Independent.ie Newsdesk

Independent.ie Newsdesk

US President Donald Trump is going after Amazon again.

Trump tweeted yesterday: "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 US), and are putting many thousands of retailers out of business!"

Amazon shares dropped 4.4pc on Wednesday after Axios reported that Trump has wondered if there was a way to "go after" the company with antitrust or competition laws.

Amazon fought for years against collecting sales tax but now collects taxes throughout the US. And while the Postal Service has lost money for years, online shopping has led to growth in its package-delivery business.

An official in the Trump administration confirmed to Reuters that the president has been complaining about Amazon in private, believing the company has become too powerful.

The official said Trump links this to Amazon chief executive Jeff Bezos' private ownership of the `Washington Post', which he has called "fake news". Amazon could not be reached immediately for comment.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business