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Trump strikes at Amazon's tax record, effect on retail in Tweet


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Trump strikes at Amazon's tax record, effect on retail in Tweet

U.S. President Donald Trump took aim at Inc. in a tweet posted March 29, one day after a report suggested that he is "obsessed" with the retailer.

In a morning post to his Twitter Inc. account, Trump claimed that the retailer pays "little or no taxes to state [and] local governments." The president also claimed that the Seattle-based retailer takes advantage of the U.S. Postal Service — something that is "causing tremendous loss to the U.S.," he said — and has put "many thousands of retailers out of business."

"I have stated my concerns with Amazon long before the election," the president tweeted. Amazon did not immediately respond to a request for comment from S&P Global Market Intelligence.

Shares of the e-commerce giant were 3.7% lower at $1,378.34 in morning trading.

Trump's tweet is the latest indication that he is at odds with Amazon. A March 28 report from Axios said Trump is "obsessed" with the retailer, which is led by founder, President, CEO and Chairman Jeffrey Bezos.

Citing unnamed sources familiar with Trump's thoughts on the matter, the report also indicated that the president, whose fortune has its origins in real estate, is perturbed by the threat Amazon poses to malls and other brick-and-mortar retailers. Trump has also wondered whether it would be possible "to go after Amazon with antitrust or competition law," Axios reported, citing a source who had spoken directly with Trump.

Trump's ire toward Amazon and Bezos is not new. In August 2017, he tweeted that Amazon was a menace to local governments and jobs. The following week, federal antitrust regulators approved Amazon's plan to buy Whole Foods Market Inc.

The president has also frequently criticized The Washington Post, which Bezos owns, for its coverage of his 2016 campaign and his administration.