BARK WITH LESS BITE: President Trump kept up his attack on Amazon, although the impact of a President tweet seems to have lessened some, at least on Wall Street.
Trump tweeted: “I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy. Amazon should pay these costs (plus) and not have them bourne [sic] by the American Taxpayer. Many billions of dollars. P.O. leaders don’t have a clue (or do they?)!”
Amazon’s stock ended the day up 1.4 percent to $1,392.05 — although its market capitalization of $674 billion still left it down $50.8 billion since the Trump onslaught began last week, with sources telling political site Axios that the President was “obsessed” with the company.
Just where that obsession leads is still an open question. Many say it’s directed more toward The Washington Post, which Amazon founder Jeff Bezos owns personally, and less toward the e-commerce giant.
But Amazon, its power, scale and influence are coming under increasingly close scrutiny as the web giant moves decisively into more businesses, including cloud computing and food retailing, with Whole Foods.
In the past, Trump has also railed against Amazon’s tax treatment.
But the President’s latest tweet puts him at odds with at least some of the experts in his own administration. The blog of the Postal Service’s Inspector General noted that “growth in packages is most welcome, especially as it continues to lose letter mail volumes.”
The shot against Amazon came amid a flurry of morning tweets that covered a range of beefs, targeting “Little Jeff Zu[c]ker” at CNN, other “Fake News Networks” such as NBC, ABC and CBS and a “big Caravan of People from Honduras.”
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