TRUMP ACCUSES AMAZON OF HURTING TAX-PAYING RETAILERS, $5.7 BILLION WIPED OFF VALUE

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  • Trump tweeted: “Amazon is doing great damage to tax paying retailers”
  • Jeff Bezos owns anti-Trump The Washington Post
  • Amazon’s shares lost 1.2 per cent of their value in pre-market trading after Mr Trump’s comments.

 

Donald Trump wiped around $5.7bn dollars off the stock market valuation of Amazon in less than two hours on Wednesday, with a tweet attacking the online retail giant for “doing great damage to tax paying retailers”.

Amazon’s shares lost 1.2 per cent of their value in pre-market trading after Mr Trump’s comments.

 

The President tweeted: “Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the US are being hurt – many jobs being lost!”

Mr Trump has previously criticised Amazon and the Washington Post, owned by Amazon founder Jeff Bezos, for its coverage. In June, Mr Trump tweeted: “AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes“.

In December 2015, Mr Trump accused Mr Bezos of using the Washington Post as a tax shelter to reduce Amazon’s tax bill. Mr Trump claimed that Amazon’s stock would “crumble like a paper bag” if it could not use this arrangement.

Mr. Bezos owns the Washington Post via a holding company which is not linked to Amazon.

 

Read more: $5.7 BILLION wiped off value…

 

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