President Trump Criticizes Amazon on Twitter

President Trump Criticizes Amazon on Twitter

A day after a report suggested President Donald Trump's intentions to "go after" Amazon, the president seemingly confirmed his stance about the e-tail giant in a tweet he shared this morning. He also notes how they "use our Postal System as their delivery boy (causing tremendous loss to the U.S.) and are putting thousands or retailers out of business!" Trump has previously tweeted about Amazon, saying that it has done "great damage to tax paying retailers".

The Twitter attack comes a White House source claimed Mr Trump is "obsessed with Amazon" and had asked "if there may be any way to go after Amazon with antitrust or competition law".

Bezos is also the owner of the Washington Post, a frequent target of Trump's ire over its news coverage.

Amazon did not respond for a request for comment on the president's latest criticism.

However, Amazon does not collect state taxes on third-party sellers who use the Amazon platform to sell their products. Part of that is because it bought Whole Foods, which had 89,000 employees just after Amazon closed on the deal.

The company has become a major player in cloud computing and streaming video, and has used its research in artificial intelligence to launch a popular line of devices powered by its digital assistant Alexa.

The net worth of Bezos who is now the richest man in the world dropped by $10.7 billion.

President Trump goes after Amazon again
It increased, as 69 investors sold AMZN shares while 578 reduced holdings. 168 funds opened positions while 667 raised stakes. The e-commerce giant reported $2.16 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.85 by $0.31.

The Seattle-based company has promised to create 50,000 new jobs as it invests $5 billion in a second headquarters in North America.

Next month, in a case brought by South Dakota, the supreme court is scheduled to hear arguments on whether states can require online retailers to collect sales taxes even if they lack a physical presence in that state. Its rate is often lower than other huge corporations, but it paid $412 million for the 2016 tax year, according to the Securities and Exchange Commission.

President Trump's "threats have a history of limited or no follow through", writes Birinyi, falthough it's always possible "it will be different this time".

President Trump has previously been critical of Amazon's treatment of the United States Postal Service.

Amazon says that it actually helps small companies succeed in the hard retail climate.

There's no mention of a possible integration with Amazon Prime, but it's more than likely that an Amazon banking service could be included in the retailer's popular subscription service.

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