Can Trump be the one to rein in Amazon?

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Can Trump be the one to rein in Amazon?

By Gina Acosta - 03/29/2018
Before becoming president, Trump criticized Amazon’s “monopolistic tendencies” and said the company could face antitrust problems.

President Trump is renewing his attacks on Amazon, suggesting he might try to weaken the e-commerce giant's business.

On Thursday, Amazon shares dropped 5 percent after Trump tweeted, "I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!"

On Wednesday Axios had reported that, according to at least five sources, "Trump has talked about changing Amazon's tax treatment because he's worried about mom-and-pop retailers being put out of business."

Also on Wednesday, a White House official declined to comment specifically on the report but commented that the president "has said he's always looking to create a level playing field for all businesses."

Trump has repeatedly tweeted for years over how much he dislikes the company.

Treasury Secretary Steven Mnuchin has said the White House supports an Internet sales tax. Some in Congress support legislation to require all e-commerce companies collect state sales tax.

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