tiptrot.com June 20, 2018

Amazon shares pare some gains as Trump attacks company again

04 April 2018, 01:10 | Cedric Leonard

Services Stock Buzz: Amazon.com, Inc. (AMZN)

President Trump Attacked Amazon Again. But He Got This Basic Fact Wrong

A minute later, President Trump tweeted his latest attack on Amazon, arguing that it should pay "many billions of dollars" more to the US Postal Service.

It was the latest salvo in a string of attacks in recent days as Trump stepped up his criticism of Amazon and its founder and Chief Executive Jeff Bezos, who privately owns The Washington Post. Over the weekend, editor Marty Baron denied in an interview with the New York Times that Bezos had ever meddled in the paper's Trump coverage. If the president wants to punish Amazon, he's succeeding.

Trump did not cite where these figures came from.

"I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy", he wrote on Tuesday. Many billions of dollars. "Amazon must pay real costs (and taxes) now!" "P.O. leaders don't have a clue (or do they?)!"

Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. "THEY LOSE A FORTUNE, and this will be changed".

Mr Trump's comments were based on suspicions that Amazon is unfairly benefiting from favourable rates from the postal service. It is legally prohibited from charging shippers less than its delivery costs.

Amazon also ships packages through other providers such as FedEx Corp. and United Parcel Service Inc.as well as its own experimental shipping service.

New Delhi- Global e-commerce giant Amazon on Tuesday said it has launched B2B (business-to-business) selling for Indian exporters under its "Global Selling programme" to reach business customers across its worldwide marketplaces.

And according to Vanity Fair, Mr Trump is looking for ways to step up his attack on Amazon, with one source telling Gabriel Sherman he had become "obsessed with Bezos". State attorneys general could open investigations, or states could seek to collect more sales taxes from third-party vendors who use Amazon.

According to the e-commerce giant, once the sellers register for the individual marketplaces, they will then be able to export to these Amazon global marketplaces.

The action pits the world's most powerful man, Donald J. Trump against 1 of the world's biggest corporations, a global titan with $684-B in market capitalization and more than half a million employees.

The business community, however, criticized Trump.

The Washington Post's coverage of Trump's campaign and presidency has been overwhelmingly negative.

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