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Amazon Losses $30 Billion Due To Trump's Attacks

U.S president Donald J. Trump, recently increased his attack on Amazon on Thursday, claiming that the company shortchanges taxpayers, uses the U.S Postal Service cheaply, and also affecting the business of other traditional retailers.

Jeff Bezos and Donald Trump

Regarding this issue, Sarah Sanders in a briefing on Wednesday talked about Trump's plan of wanting “a level playing field for all businesses” but that “there aren’t any specific policies on the table at this time”

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However Trump has his reasons. He said;
“I have stated my concerns with Amazon long before the election,” he wrote on Twitter. “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 US), and are putting many thousands of retailers out of business!”

Facebook has lost $80bn since February after its involvement with political consultancy Cambridge Analytica was revealed.

Beginning his attack on the company last year, by ordering the Postal Service to increase the taxes charged on Amazon. He said this in a tweet:

“Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the post office dumber and poorer?. Should be charging MUCH MORE!”

Due to Trump's attack on Amazon, the company shares dropped slightly on Thursday by 4.4%, and has lost more than $30bn since Trump started his attacks.

After analysing the situation, the Deutsche Bank analyst Lloyd Walmsley, said;

 “We see some small risk that the President could use the bully pulpit to criticize Amazon, and potentially put up some roadblocks for the company, but “if it were such a slam dunk case, we think it is quite likely that we would have seen a tweet from @RealDonaldTrump about an impending regulatory action”.