Amazon denies allegations of planning to attach customs value labels on products.
Amazon Tumbles Prior to U.S. Market Open
Amazon's stock suffered a steep fall before the U.S. markets kicked off, shedding over two percent. Behind this slide stands a verbal jab from Karoline Leavitt, a spokesperson for the U.S. government, labeling Amazon's intended pricing transparency as "hostile and political." Let's dive into the recent goings-on. 📈📉
- Current: 29.04.24 - 29.04.25
- Range: 1T, 1W, 1M, 1J, 3J, max
- Interesting Points: View Details, View Chart Analysis
Punchbowl hints at Price Transparency Initiative
Previously, a news outlet named "Punchbowl" reported that the company was contemplating revealing the impact of tariffs on the prices of Amazon-listed items. After Leavitt's statement, the rhetoric intensified.
Trump and Bessent chime in
Secretary Scott Bessent mentioned President Donald Trump's strides in slashing the "skyrocketing Biden inflation." He asserted that Trump's deregulation efforts would lead to a significant boost in real household incomes for Americans.
Amazon Clarifies its Stand
Confronted by the allegations, Amazon has spoken up, claiming that it has no plans to disclose tariff effects. Only the Amazon Haul brand, focusing on affordability, had been contemplating transparent pricing for some items. However, these moves were apparently never sanctioned and are not on the horizon.
Keep tabs on the coming days as the U.S financial markets gyrate, and make sure not to miss the high-stakes earnings reports to come. 📊💰
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- Karoline Leavitt, a U.S. government spokesperson, criticized Amazon's proposed pricing transparency, which was previously hinted at by Punchbowl, and this led to a decline in the company's stock price.
- Despite the criticism, Amazon has clarified that it has no plans to disclose the impact of tariffs on the prices of its items, except for the Amazon Haul brand, which was considering transparent pricing for some items.
- This pricing transparency initiative was, however, never sanctioned and is not on the horizon, according to Amazon's statement.
- The debate about Amazon's pricing transparency has intensified in the realm of politics and business, with Secretary Scott Bessent mentioning President Donald Trump's efforts to slash inflation and boost American household incomes.
- As the U.S. financial markets continue to gyrate, it is crucial to keep track of the upcoming days and the high-stakes earnings reports to come.
