Amazon denies disclosing detailed product tariffs, stock price recovers most of the intraday gains
Amazon denied that it would indicate the details of product tariffs on its official website. After a brief drop in the morning session, its stock rebounded, closing down slightly by 0.17%. Since the beginning of this year, Amazon's stock has fallen by a cumulative 14%, mainly due to market concerns about tariffs. The White House press secretary called this move "an act of hostile politics," while an Amazon spokesperson stated that the proposal had not been approved. Trump expressed concern about this and stated that Bezos made the right decision. Amazon will release its first-quarter financial report this Thursday
According to Zhitong Finance APP, Amazon (AMZN.US) stock price rebounded strongly after a brief decline in early trading on Tuesday, following the company's denial of reports regarding the itemization of tariff costs on its official website. By the close, the stock price slightly fell by 0.17%. Since the beginning of this year, Amazon's stock price has cumulatively dropped by 14%, mainly affected by market concerns over tariffs.
Earlier reports indicated that Amazon was planning to clearly indicate the proportion of tariffs in the total price of goods on its website, showing consumers the impact of tariffs on the prices of imported goods. This move sparked market attention as soon as it was announced.
White House Press Secretary Karine Jean-Pierre responded to the news at a press conference, calling it "a hostile political act by Amazon." She questioned, "If that's the case, why didn't Amazon take similar measures when the Biden administration triggered the highest inflation in forty years?"
However, Amazon spokesperson Tim Doyle later issued a statement to the media, stating, "Our Amazon Haul team, which operates low-priced products, had discussed whether to indicate import tariffs on certain products, but this proposal was never approved and will not be implemented."
The White House has not yet made further comments on Amazon's statement.
Foreign media reported that President Trump himself has called Amazon founder Jeff Bezos to express his concerns about the matter. Later that day, when asked by reporters about the topic, Trump responded, "Jeff Bezos is doing great, he handled the issue quickly and made the right decision. He is a good guy."
It is noteworthy that other companies have already begun to display product tariffs on their checkout pages. The Chinese e-commerce platform Temu has currently added a "import fees" section on its page to transparently show consumers the cost composition.
This Thursday, after the U.S. stock market closes, Amazon will release its first-quarter financial report. The market expects the company's management to formally respond to the report and the impact of tariffs. Many of the products sold by Amazon come from China, and these products are facing tariffs of up to 145% imposed by the Trump administration
