NZ Herald
  • Home
  • Latest news
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather forecasts

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
    • The Great NZ Road Trip
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
    • Cooking the Books
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • What the Actual
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

White House source says Donald Trump is 'obsessed' with Amazon and wants to 'go after' it

By Francesca Chambers
Daily Mail·
28 Mar, 2018 09:24 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Daniels reveals more details about the alleged affair in 2006 to 60 Minutes.

President Donald Trump is looking for ways to knock Internet retail giant Amazon down a few pegs, with sources saying he's "obsessed" with the company owned by billionaire Jeff Bezos and wants to "go after" it.

An Axios report on Wednesday revealing Trump's plot to put strict new regulations on the company may have already had the intended effect, with Amazon stock plunging by more than US$53 billion ($73.4b) in value.

Bezos takes a personal hit of more than US$8.5b from the market dip for the e-commerce behemoth, according to the Daily Mail.

The White House at an afternoon news conference said there's "no specific policies or actions" that would apply to Amazon's business model that it's currently considering.

But Press Secretary Sarah Sanders also noted that Trump is "always looking to create a level playing field for all businesses' and his interest in pursuing an Internet sales tax 'is no different."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

After the White House press briefing, at which Sanders was repeatedly asked about Amazon, the companies stock began to bounce back.

Axios drove the market down earlier in the day with a report based on the word of five sources, including one who said that Trump was pondering ways to "go after" Amazon.

Amazon CEO Jeff Bezos. Photo / AP
Amazon CEO Jeff Bezos. Photo / AP

"He's obsessed with Amazon," a source said told the news website. "Obsessed."

Advertisement
Advertise with NZME.

Trump's desire to further regulate Amazon has been inflamed by his wealthy friends' complaints that lax Internet commerce rules are killing their businesses, Axios reported.

The president also believes that Amazon's thriving business model is hurting mom and pop stores that are owned by people who voted for him.

A source told Axios that Trump has also blamed Amazon for losses suffered by the U.S. Post Office.

"The whole post office thing, that's very much a perception he has," the source said. "It's been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon."

Discover more

Business

Meet the Aussie pair who made the 30 Under 30 rich list

28 Mar 04:39 AM
Companies

Stock Takes: Inghams selldown sizzles

28 Mar 05:00 PM
Business

Big read: Can Mark Zuckerberg fix Facebook?

29 Mar 02:50 AM
Business

Home of the Year for 2018 unveiled

28 Mar 07:25 PM

Still, Trump is said to be actively seeking to come after Amazon using anti-trust or competition law, another source told Axios.

Treasury Secretary Steve Mnuchin told the House of Representatives' tax-writing committee in February that the administration "feels strongly" that Internet sales should be taxed.

President Donald Trump (left) and Satya Nadella, Chief Executive Officer of Microsoft (center) listen as Jeff Bezos, Chief Executive Officer of Amazon, speaks during an American Technology Council roundtable in the State Dinning Room of the White House. Photo / AP
President Donald Trump (left) and Satya Nadella, Chief Executive Officer of Microsoft (center) listen as Jeff Bezos, Chief Executive Officer of Amazon, speaks during an American Technology Council roundtable in the State Dinning Room of the White House. Photo / AP

At a July appearance before the U.S. Senate where he was asked about the Internet sales tax, Mnuchin singled out Amazon.

"I am encouraged that Amazon is now charging tax, I believe, on their own sales but not the marketplace," he said. "I'm not sure I understand the consistency on that, but I respect the states' ability that there's an awful lot of money that's not being collected."

Amazon's stock share fell by as much as 7.4 per cent on Wednesday, Reuters said, after the damaging Axios report ran. That's more than US$53b in losses for the company in one day.

Bezos is also the owner of The Washington Post, which Trump has labeled "fake news" because of the stories it has done on him that he says are false representations.

Advertisement
Advertise with NZME.

A June 28, 2017 tweet dubbed the two companies - which have totally separate leadership structures - the "AmazonWashingtonPost" and described the newspaper as the "guardian" of the retail division and the reason that Amazon does not have to pay an Internet sales tax.

The #AmazonWashingtonPost, sometimes referred to as the guardian of Amazon not paying internet taxes (which they should) is FAKE NEWS!

— Donald J. Trump (@realDonaldTrump) June 28, 2017

Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!

— Donald J. Trump (@realDonaldTrump) August 16, 2017

"Which they should," he stated.

An August 16, 2017 tweet claimed 'Amazon is doing great damage to tax paying retailers.

"Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!" he said.

Throughout his presidential campaign, Trump made similar assaults on The Post, Amazon and Bezos, who attended a meeting last June for the tech industry at the White House.

Save

    Share this article

Latest from Business

Premium
Shares

Market close: NZ sharemarket rises as gentailers make gains

09 May 06:03 AM
Premium
Media Insider

Noise ban, off-limit interviews: TVNZ's rules as RNZ moves in; Ad agencies take aim at global merger

09 May 05:43 AM
Premium
Media Insider

'Very happy': Jim Grenon to join NZME board with Steven Joyce in peace deal that ends bitter battle

09 May 05:42 AM

“Not an invisible footprint”: Why technology supply chains need optimising

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Market close: NZ sharemarket rises as gentailers make gains

Market close: NZ sharemarket rises as gentailers make gains

09 May 06:03 AM

The NZ sharemarket rose strongly today as gentailers made gains across the board.

Premium
Noise ban, off-limit interviews: TVNZ's rules as RNZ moves in; Ad agencies take aim at global merger

Noise ban, off-limit interviews: TVNZ's rules as RNZ moves in; Ad agencies take aim at global merger

09 May 05:43 AM
Premium
'Very happy': Jim Grenon to join NZME board with Steven Joyce in peace deal that ends bitter battle

'Very happy': Jim Grenon to join NZME board with Steven Joyce in peace deal that ends bitter battle

09 May 05:42 AM
Butter prices: Here’s how much they  might still rise

Butter prices: Here’s how much they might still rise

09 May 05:03 AM
Deposit scheme reduces risk, boosts trust – General Finance
sponsored

Deposit scheme reduces risk, boosts trust – General Finance

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP