President Donald Trump blasted Amazon in a tweet early Wednesday, saying the world’s largest online retailer is damaging smaller retailers.
Trump previously claimed while campaigning that Amazon is a monopoly that he would target for antitrust violations if elected. “Believe me, if I become president, do they have problems. They’re going to have such problems,” Trump said in 2016.
According to Bloomberg,
“In his tweet, Trump also hammered Amazon again on tax-related allegations. It’s unclear exactly what he means since the company now collects sales tax in each state that has one. There is one loophole left: Shoppers don’t have to pay sales tax when they buy from one of Amazon’s many third-party vendors. Such sales make up about half of the company’s volume.
Trump’s relationship with Corporate America has frayed since his inauguration and several company executives resigned this week from a business council to protest the president’s response to the violent demonstrations in Charlottesville, Virginia.
But Trump has often taken particular aim at Amazon and the Washington Post, owned by Amazon founder Jeff Bezos, for its coverage. In June, the president posted a tweet attacking ‘AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes.’
In December 2015, Trump also described the Washington Post as a tax shelter that Bezos uses to keep Amazon’s taxes low. Without these arrangements, Trump argued, Amazon’s stock would ‘crumble like a paper bag.’ Bezos actually owns the Washington Post via a holding company separate from Amazon. Amazon did not respond to a request for comment.”
Amazon’s shares fell less than 1 percent to $975.19 shortly after the president’s tweet.