Amazon announces reference device for an Alexa-powered smart lamp

Amazon announces reference device for an Alexa-powered smart lamp

Despite his attacks against the company, Axios reported on Wednesday that Trump does not have a plan to enact new regulations or taxes against Amazon.

His tweet sent the stock down about 4 percent this morning as investors feared Trump could raise taxes on the e-commerce company or try to break it apart.

Addressing the Axios report, White House spokeswoman Sarah Sanders explained that Trump's government is always looking for ways to make business fairer for everyone. Several states have argued that Amazon, and other online retailers, should be collecting sales taxes even in states where those companies have no physical presence.

Have Amazon shipments financially hurt the U.S. Postal Service?

But she added: "There aren't any specific policies on the table at this time".

The president claimed the company used the US Postal Service as their "delivery boy" in a tweet today.

Amazon closed Wednesday afternoon at $1,431 per share and by the time it opened Thursday, after the president's tweet, it was selling at $1,406.

People who have spoken to Trump allege that "he's obsessed with Amazon", according to the Axios report.

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Shortly after the write-up went live yesterday, shares in the company fell by as much as five per cent - representing a sum of $30 billion sliced of the company's market capitalisation. "Singling out favorite Trump villains like Amazon is a distraction from our bipartisan effort".

Amazon also pays local property taxes on its distribution centers as well as on the Whole Foods stores it purchased a year ago. But Trump has remained belligerent about Bezos, who also has media interests that he considers pedlars of "fake news".

"Netflix and Amazon haven't really experienced the intense selling that Facebook did", said Michael Antonelli, an institutional equity sales trader and managing director at Robert W. Baird & Co.

President Donald Trump on Thursday seemed to confirm reporting that Amazon represented a serious concern of his.

Amazon thus far has not responded publicly to the president's charges. And it also does not collect sales taxes on purchases made on Amazon from third-party vendors.

Bezos on the other hand has criticized the President for "eroding the U.S. democracy".

Nevertheless, Trump's outspokenness about Amazon's tax treatment has also ruffled some feathers as insiders have often pointed out that the president expressed a seemingly different sentiment about corporate taxes prior to being elected.

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