Despite the fact that Americans and U.S. companies are calling for Facebook regulation, Trump is looking at Amazon.
The President of the United States has been accused of hating and being “obsessed with Amazon.”
Jonathan Swan from Axios reported on Trump’s focus on Amazon at a time when the rest of the country – and much of the world – has been placing the spotlight on government regulation of Facebook. Swan quoted one of five unnamed sources whom he claimed discussed Trump’s pursuit of Amazon with the president, saying that he is “obsessed with Amazon.”
The report was far from being a story of how much the president enjoys finding a great deal online. Instead, it was an article titled “Trump hates Amazon, not Facebook.” In it, the author claimed the president is seeking to use antitrust law to build a case against the online marketplace. Swan claims the president’s motive is to get back at Amazon for the harm it has caused to brick-and-mortar retail companies.
Trump Wants to “Clip CEO Jeff Bezos’ Wings”
Swan’s source went on to say that Trump has “wondered aloud if there may be any way to go after Amazon with antitrust or competition law.” He went on to quote the source as adding that the American president “would love to clip CEO Jeff Bezos’ wings.” Equally, the source pointed out that Trump doesn’t have any specific plan for doing so.
The report proceeds to make a point by point argument outlining the many ways in which the president has spoken out against Amazon. For every point made about Trump’s statements, Swan quoted sources to help explain what the president said to him/her. Swan also suggested possible driving forces behind those statements.
Trump has, according to the report, indicated an intention to change regulations over Amazon because it is hurting mom and pop businesses. He even questioned the relationship the online retailer maintains with the U.S. Postal Service. He called that relationship a “free ride” despite the fact that his aides have reminded him that Amazon pours a great deal of revenue into the USPS – a government agency.
What Does the White House Say?
Reuters reported that the White House says there aren’t any new regulatory measures underway for Amazon. Equally, it pointed out that the administration routinely examines a number of different options.
Regardless of the confirmation that there is no immediate threat to Amazon in terms of new regulation, the company’s stock fell by over four percent on Wednesday alone, reaching $1,431 per share. At the time of the writing of this article, Amazon had not released a public comment on the matter.