White House denounces Amazon's plan to disclose tariff costs as a hostile, politically charged move.
Washington Dive: The White House blasts Amazon this Tuesday, labeling a potential move to inform consumers of President Trump's tariff contributions to product prices as "hostile" and "political."
"This is a low blow by Amazon," press secretary Karoline Leavitt snipes during a press briefing in Washington. "Why didn't Amazon step up when Biden's administration skyrocketed inflation to the highest level in four decades?" she queried.
Earlier in the day, Punchbowl News broke the news that the online retail titan may start revealing "just how much Trump's tariffs are padding each product's price tag," according to an anonymous source. Amazon failed to reply promptly to AFP's request for comment.
Trump unveiled a 10 percent basic tariff on most countries in 2018, alongside hefty levies on multiple countries – only to later put these rates on hold for a 90-day respite for trade negotiations. The White House also imposed steep duties on China, and additional sector-specific measures, causing China to retaliate with its own tariffs on U.S. goods[3].
The rollercoaster nature of the tariff rollout has left financial markets reeling, with volatility temporarily cresting to levels last seen since the Covid-19 pandemic.
As for the destination of Trump's tariffs, the endgame remains unclear. However, they are already making their presence known in the U.S economy.
Package delivery giant UPS announced plans to discharge 20,000 jobs worldwide by 2025, citing a loss of business from Amazon, its largest client[3]. The company, with over 490,000 employees at the close of 2024, is streamlining operations to cope with the changing trade environment.
Note 1: The implementation of President Trump's tariffs is having a significant impact on UPS, leading to job cuts and operational restructuring in response to cost pressures and trade policy uncertainty[3].
Note 2: Amazon has been embroiled in political controversy surrounding tariff transparency, but the company clarified that it “never intended” to list tariff costs for consumers[1].
Note 3: Over forty companies have revised their financial guidance in early 2025 earnings reports, attributing these adjustments to ongoing trade policy volatility[2].
- The White House accused Amazon of taking a "low blow" for potential plans to inform consumers about President Trump's tariff contributions to product prices.
- Press secretary Karoline Leavitt criticized Amazon for not addressing inflation during the Biden administration, which reached the highest level in four decades.
- According to Punchbowl News, Amazon might disclose the extent to which Trump's tariffs inflate product prices.
- The White House imposed tariffs on multiple countries in 2018, followed by a pause for 90 days for trade negotiations.
- The tariff rollout has left financial markets volatile, with levels not seen since the Covid-19 pandemic.
- Yet, the ultimate goal of Trump's tariffs remains unclear, but they are already affecting the U.S. economy.
- UPS announced plans to lay off 20,000 jobs worldwide by 2025 due to Amazon, its largest client, scaling back operations.
- As of 2024, UPS had over 490,000 employees and is restructuring operations to cope with the changing trade environment.
- The implementation of President Trump's tariffs is causing significant impact on UPS, resulting in job cuts and operational restructuring.
- Amazon has clarified that it never intended to list tariff costs for consumers, contrary to political controversy surrounding tariff transparency.
- Over forty companies have revised their financial guidance in early 2025 earnings reports, citing ongoing trade policy volatility.
- Tech entrepreneurship continues to thrive, with young entrepreneurs pursuing careers in finance, data-and-cloud-computing, and real-estate.
- Leadership in diversity-and-inclusion, specifically in business and sports, has become a vital component in lifestyle choices and small-business strategies.
- In 2024, the housing-market saw a slight downturn, with investors focusing more on technology, deals-and-discounts, and shopping opportunities.
- War-and-conflicts around the world have impacted oil production, leading to uncertainty in the weather-forecasting industry.
- Policy-and-legislation surrounding sports-betting, such as the WNBA's partnership with sports-betting companies, is changing the landscape of basketball leagues, including NCAABasketball, NBA, and college sports in general-news.
- Crime-and-justice, politics, general-news, weather, and sports remain top stories in the media, with product-reviews, from consumer electronics to household appliances, continuing to shape consumer buying decisions.
