President Trump is Going After Amazon and Jeff Bezos, again

Amazon value drops $53 billion following report that Trump is

U.S. President Donald Trump accused Amazon.com Inc on Thursday of not paying enough tax, taking advantage of the U.S. postal system and putting small retailers out of business, but he offered no evidence to back up his criticisms and did not suggest any actions he would take.

Shares in the tech giant fell by more than 4% on Thursday after Mr Trump set out the gripes in a tweet though they later recovered to end 1% higher after the White House said "no actions" were now planned against the company despite the concerns. One of Axios' sources who has spoken to the president said: "He's wondered aloud if there may be any way to go after Amazon with antitrust or competition law".

Amazon fought for years against collecting sales tax but now collects taxes nationwide.

As for the Postal Service, it has lost money for years, but online shopping has led to growth in its package-delivery business.

Read Friday's Arkansas Democrat-Gazette for full details.

States can not collect taxes from mail order or online sales from firms without a physical presence in that state, according to a Supreme Court ruling in 1992.

"The headline risk for Amazon is likely to continue for as long a President Trump calls the White House home, but we doubt his personal antipathy for Jeff Bezos will translate into actual policy".

Hawk boys win season-opening track meet
The 4x200 relay team of Myah Kremer, Alexis Cole, Georgia Reemitz and Addison Rodel crossed the line fifth for five points. In the 400 M Dash, Flags landed in fifth place with a time of 1:08.8 and Harrington took sixth (1:10.06).

Amazon shares fell 4.38 percent on Wednesday after the news.

Trump kept up the attack Thursday and appears to have inaccurate information about the way Amazon runs its business. 27% of young millennials polled said that they would open an additional checking account with Amazon for $10 a month, while one-tenth said they'd replace their current account and go to Amazon instead. The stock fell nearly 4 percent at the open on Thursday.

A USPS spokesperson declined to comment on Trump's comment.

Details of Amazon's payments to USPS, which delivers its packages to millions of United States consumers and businesses, are not publicly known.

First of all, Amazon does pay taxes. He reportedly did not have any concrete plans for regulation, and after the report, press secretary Sarah Huckabee Sanders said the administration did not have any policy changes to announce. While consumption habits, the over-supply of malls and megastores like Walmart played a role, so did e-commerce.

White House spokesman Raj Shah said in a TV interview Thursday that Trump's tweets are not about Bezos, but that mom-and-pop shops and brick-and-mortar stores are having trouble competing with fast-growing Amazon.

Like other major publications, Trump has said the Washington Post publishes "fake news" in order to hurt his presidency.

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