There was a drop of almost 5 per cent in the shares of largest e-retailer of the world Amamzon.com following the tendering of a list of complaints against the company by U.S. President Donald Trump on Thursday. It was just a day ago that there was news article published in the news website Axios about the possibility of Trump puling up the e-commerce company for reducing the influence and power of the company through the use of federal antitrust laws.
“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” read Trump’s tweet on Thursday against the e-retailer.
There was an investigation that was carried out by the Washington Post last year on the donations to charities of Trump and Jeff Bezos, the founder and chairman of Amazon is also the owner of the newspaper. He was awarded the Pulitzer Prize for the investigations last year. the investigations by the newspaper had revealed that many of the charities that were claimed to have bene made by Trump were grossly exaggerated and many were also actually not charity at all.
The assumption by many that the criticism of the company is a fall out of the personal grudge of Trump was negated by White House Deputy Press Secretary Raj Shah.
“A lot of people have made this, with respect to Amazon, about personalities and the CEO at Amazon - we’re talking about Jeff Bezos here,” he said on Thursday on the Fox News Channel. “It’s really about policy.”
There are no specific policy changes that are being made by Trump, Shah reiterated.
“There are a number of proposals that have worked their ways through the House and the Senate or have been considered by the House and the Senate. He’d be supportive of such efforts,” he said.
There has been skepticism of the claims made by Trump about the state and local tax payments made by Amazon. The company has earned a reputation for proper collection of the levies that may be different in different states even though Amazon was once severely criticized for its attempts to evade state sales taxes.
Despite the shares of the company being mostly stable following Trump’s tweets, any legal action taken by the Trump administration against the company would have far reaching consequences. The company is presently undergoing a procedure for building its second headquarters in the U.S. worth $5 billion that could also generate about 50,000 new jobs in and around the location that it chooses to set it up.
The company has shortlisted 20 metropolitan areas in the U.S for the purpose in January. Video streaming, a digital home assistant known as Alexa, and an online payments program are the business operations that are carried out bv Amazon apart from it business of goods deliveries throughout the U.S.
(Source:www.reuters.com)
“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” read Trump’s tweet on Thursday against the e-retailer.
There was an investigation that was carried out by the Washington Post last year on the donations to charities of Trump and Jeff Bezos, the founder and chairman of Amazon is also the owner of the newspaper. He was awarded the Pulitzer Prize for the investigations last year. the investigations by the newspaper had revealed that many of the charities that were claimed to have bene made by Trump were grossly exaggerated and many were also actually not charity at all.
The assumption by many that the criticism of the company is a fall out of the personal grudge of Trump was negated by White House Deputy Press Secretary Raj Shah.
“A lot of people have made this, with respect to Amazon, about personalities and the CEO at Amazon - we’re talking about Jeff Bezos here,” he said on Thursday on the Fox News Channel. “It’s really about policy.”
There are no specific policy changes that are being made by Trump, Shah reiterated.
“There are a number of proposals that have worked their ways through the House and the Senate or have been considered by the House and the Senate. He’d be supportive of such efforts,” he said.
There has been skepticism of the claims made by Trump about the state and local tax payments made by Amazon. The company has earned a reputation for proper collection of the levies that may be different in different states even though Amazon was once severely criticized for its attempts to evade state sales taxes.
Despite the shares of the company being mostly stable following Trump’s tweets, any legal action taken by the Trump administration against the company would have far reaching consequences. The company is presently undergoing a procedure for building its second headquarters in the U.S. worth $5 billion that could also generate about 50,000 new jobs in and around the location that it chooses to set it up.
The company has shortlisted 20 metropolitan areas in the U.S for the purpose in January. Video streaming, a digital home assistant known as Alexa, and an online payments program are the business operations that are carried out bv Amazon apart from it business of goods deliveries throughout the U.S.
(Source:www.reuters.com)
