In Trump’s recent twitter statement which he claims that, Amazon uses the postal service for next to nothing, pays little or no taxes and this leads to an unbalance playing field, as others retailers close down stores across the US. This in turn led to Amazon stocks falling 3.9percent and losing $53 billion USD after Axios reported on the statement. However, those familiar with Amazon’s humble beginnings, know of its initial struggle to gain customers and market share to the tech giant it is now, generating profits and jobs to tens of thousands of people worldwide.
It has been said that Trump hates Amazon more than he does Facebook, and might be focusing on how he might affect Amazon influence and business enterprise through antitrust and competition laws. Others claim that Trump’s special obsession with Amazon, might be because its founder Jeff Bezos also owns Washington Posts, which to say the least, Trump is not fond of as many other media companies. Going after Amazon could be a way of reducing Washington Posts financial strength indirectly.
The obsession of Trump with Amazon, might be described as a new form of protectionism, applied to businesses. With the new political landscape in the US that sees the US entering into trade wars with other super powers like China, slapping on trade tariffs on EU allies, planning a border wall with allies like Mexico and while preparing to use military to deal with civilian issues. What is strange however is that, it is now been applied to innovative home grown US businesses or perhaps Trump’s attack on Amazon is based on ulterior motives.