As the world’s richest man, Amazon CEO Jeff Bezos will certainly have many friends in high places, but it appears that he and his company has a detractor in the highest office in the United States. According to a new report, President Donald Trump wants to “go after” the online retail giant with one sourcing even claiming that he’s “obsessed” with Amazon.
Axios cites five sources who have talked to the president about Amazon who claim that he wants to go after the company. Trump has reportedly discussed altering Amazon’s tax treatment which some of his friends say hurts their businesses and is driving shopping malls as well as brick-and-mortar retailers out of business.
The president’s disdain for the company is quite well known. He has previously relied on Twitter to say that Amazon is doing a “great damage” to tax paying retailers and that consequently jobs are being lost.
Amazon declined to comment when approached by CNBC but its investors have clearly been spooked by the president’s reported remarks. The company’s shares fell 6 percent earlier today which in dollar terms wiped some $50 billion off of its market cap.
The White House hasn’t confirmed or denied the report as yet.
Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt – many jobs being lost!
— Donald J. Trump (@realDonaldTrump) August 16, 2017