Published: Wed, April 04, 2018
Global Media | By Jackie Banks

Trump's Latest Tweet Takes Down Amazon Stock, Nasdaq

Trump's Latest Tweet Takes Down Amazon Stock, Nasdaq

President Donald Trump has lobbed attacks against Amazon over its taxes and what it pays the Post Office for days.

Advisers have encouraged Trump to cancel Amazon's multi-billion-dollar cloud computing contract with the Defense Department, Vanity Fair reported late Monday.

But the source made clear that, given Trump's dissatisfaction with the company, policy changes were possible.

Despite Trump's repeated attacks via Twitter and in meetings with foreign leaders, Bloomberg's Jennifer Jacobs and Spencer Soper reported Tuesday that neither Trump nor the White House have so far made any progress on developing a plan to go after Amazon - even amid the almost week-long crusade from the president.

His latest tweet, sticks with the argument "that Amazon is costing the United States Postal Service massive amounts of money for being their delivery boy".

North Korean Leader Attends K-Pop Concert in Pyongyang
In fact, Kim Jong Un , who became the first North Korean leader to attend a K-pop concert, may have actually enjoyed it. In 2003, North Korea withdrew from the Nuclear Non-Proliferation Treaty and threatened to test atomic weapons.

'Out of control' Chinese space lab to meet fiery end within hours
There is "no need for people to worry", the China Manned Space Engineering Office said earlier on its WeChat social media account. Nevertheless, Aerospace Corp. says a clearer path of re-entry will be determined hours before it makes contact with the ground.

US, S Korea kick off low-key joint drills amid détente
The computer-simulated Key Resolve will be held for two weeks starting in mid-April. They will involve combined ground, air, naval, and special operations troops.

It's unlikely Trump will actually attack Amazon for one big reason: the stock market. In a pair of Twitter messages Saturday, Trump said Amazon "must pay real costs (and taxes) now!" "If you look at the cost that we're subsidizing, we're giving a subsidy to Amazon".

In an extensive piece published yesterday, Vanity Fair's Gabriel Sherman alleged that Donald Trump is contemplating a full-blown campaign against Jeff Bezos and his company.

Bezos, whom Forbes magazine ranks as the world's richest man with an estimated net worth of $115.6 billion, owns 78.89 million Amazon shares, worth about $110 billion at Tuesday's market close.

Corporations may have their own reasons to applaud the Trump Administration's tax bill, but there has been a lot of criticism.

White House officials said the same thing last week after Trump attacked Amazon in a tweet. Future actions to punish Amazon could, then, be seen as an abuse of power. He accused the online retailer of using the US Postal System as their "Delivery Boy" which was "causing tremendous loss to the U.S.".

Like this: