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Investing.com -- Shares of Amazon (NASDAQ:AMZN) fell over 2% in pre-open trading Tuesday after White House Press Secretary Karoline Leavitt said a move by the e-commerce giant to break out tariff pricing on products it sells is a "hostile and political" act. Shares have since recovered part of the decline after Amazon said tarrif pricing wasn’t being considered for the main website. The stock last traded down 1%.
Amazon was said to be preparing to provide customers with a clearer understanding of how United States tariffs are affecting the prices of products sold on its platform by display a breakdown of product prices, indicating the portion of the cost attributable to tariffs imposed by the administration of President Donald Trump, Punchbowl News reported earlier citing a source with knowledge of the matter.
"This is a hostile and political act by Amazon," Leavitt stated, sharing that she just got off the phone with the President about the matter.
"Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?," she added. "And I would also add that it’s not a surprise because, as Reuters recently wrote, Amazon has partnered with a Chinese propaganda arm. So this is another reason why Americans should buy American. It’s another reason why we are onshoring critical supply chains here at home to shore up our own critical supply chain and boost our own manufacturing here."
Amazon is denying that listing tarrif pricing was even in consideration for the main Amazon site, saying it was only in consideration for the ultra low cost Amazon Haul store.
“The team that runs our ultra low cost Amazon Haul store has considered listing import charges on certain products," an Amazon spokesperson told the Wasington Post. "This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”
