Global  

“News neutrality by unbiased coverage”
One News Page
> >

Trump Wants to Curb Amazon – And the News Lost the Firm $30 Billion

One News Page Staff Friday, 30 March 2018
Trump Wants to Curb Amazon – And the News Lost the Firm $30 Billionby 👨‍💻 Graham Pierrepoint

US President Donald Trump has long since positioned himself as a leader who wants to do right by ordinary business in the US – and while much of the past year or so has been focused on a number of scandals and controversies which could yet still put his Presidency in jeopardy, the Commander in Chief has this week turned his attention to what is inarguably one of the most expansive commercial giants online today – Amazon, which has made its CEO Jeff Bezos the world’s richest citizen – if only for a brief period.

Trump has reportedly been discussing his concerns regarding Amazon behind the scenes, concerned that the firm and brand is growing to have too much power in the global marketplace – and that he wishes to make changes to the online retailer’s tax status, according to a report lodged by Axios and according to reports followed up by Reuters. His desire to try and curb Amazon’s power may come, as some outlets suggest, as a result of his distaste for the Washington Post, privately owned by Bezos, a publication which is one of many Trump has lambasted as having perpetuated ‘fake news’ during his time in office. Trump reportedly wants to pursue this level playing field – but is much of this desire to curb Amazon coming from his distaste for what he feels has become Bezos’ media mouthpiece?

The history of Trump and Amazon's long-standing feud
Watch: The history of Trump and Amazon's long-standing feud

Either way, Bezos’ firm certainly felt the pinch on the stock market this week, as the value of Amazon dropped by around a worrying 5% following publication of the Axios report. This equates to over $30 billion – hardly small change – though it’s clear from this movement on Wall Street that some are concerned that Trump could well follow through on plans to cut back on how much Amazon can do – whether it be via taxation or other levies.

In a week or two where headlines regarding Trump appear to have taken a back seat thanks to unfolding matters regarding Russian diplomats and Facebook data scandals, this latest piece of White House news may not be very welcome at all for Amazon – whether or not Trump will make proposals, or if they will come to pass and rein in Amazon’s astounding growth, remains to be seen – but for now, they’re $30 billion lighter – and they’re going to want to try and claw that back.

0
shares
ShareTweetSavePostSend
 
Credit: Newsy Studio - Published < > Embed
News video: Trump Says The US Has $500B Trade Deficit With China. Nope.

▶ Trump Says The US Has $500B Trade Deficit With China. Nope. 00:39

President Donald Trump says the U.S. lost $500 billion in trade with China last year. That's off by billions.

You Might Like


Recent related videos from verified sources

USPS Is Hemorrhaging Billions A Year And It Might Sell Off The Rights To Your Mailbox To Turn A Profit [Video]USPS Is Hemorrhaging Billions A Year And It Might Sell Off The Rights To Your Mailbox To Turn A Profit 00:36

You may have never thought of it, but there's only one shipping company that can leave deliveries in your mailbox, rather than just on your doorstep — the United States Postal Service. And the USPS..

Credit: Wochit News - Published


Recent related news from verified sources

The business school prof who predicted Amazon would buy Whole Foods now says an AWS spinoff is inevitable — and the standalone company could be worth $600B (AMZN)

· Amazon will split off Amazon Web Services as a separate company, marketing professor Scott Galloway said at Business Insider's IGNITION conference on...
Business Insider - Technology

Amazon and Walmart are set to become a ‘retail duopoly,’ Loup Ventures says (WMT, AMZN)

Amazon and Walmart are set to become a ‘retail duopoly,’ Loup Ventures says (WMT, AMZN)
· *Amazon and Walmart are "taking aim at each other" with their respective pushes into physical retail spaces and digital commerce, Loup Ventures managing...
Business Insider - Business

Trump wants it both ways on criminal justice reform and the death penalty

Trump wants it both ways on criminal justice reform and the death penalty
(CNN)President Donald Trump endorsed the death penalty for drug dealers in China in an odd tweet Wednesday, weighing in on the domestic affairs of another nation...
WorldNews - Front Page

Recode Daily: Trump and Xi Jinping reach a temporary trade-war truce

U.S. President Donald Trump and Chinese language President Xi Jinping reached an settlement to successfully pause their commerce conflict and paintings towards a...
The News Articles - World


Tweets about this


Other recent news in Business

Elon Musk says Tesla 'would be interested' in taking over GENERAL Motors' idled factories (TSLA)'AQUAMAN' is already breaking box-office records in China, 2 weeks before the movie opens in the US
US wants HUAWEI CFO to face fraud chargesTrump Will Nominate WILLIAM BARR as Attorney General
•More original news reports from One News Page
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest