Amazon CEO Andy Jassy warned that Trump's new tariffs on Chinese imports could result in higher prices for U.S. consumers. Many third-party sellers lack the margin to absorb new tariffs, so they will likely pass the added costs on to consumers, according to Jassey's interview with CNBC. Amazon is making strategic inventory buys and renegotiating supplier terms to mitigate the impact and has reportedly begun canceling direct import orders from Chinese vendors. Shares dropped over 5% on Thursday and are down over 17% YTD.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Amazon CEO Andy Jassy warned that Trump's new tariffs on Chinese imports could result in higher
00:06prices for U.S. consumers. Many third-party sellers lack the margin to absorb new tariffs,
00:11so they're likely to pass the added costs on to consumers, according to Jassy's interview with
00:15CNBC. Amazon is making strategic inventory buys and renegotiating supplier terms to mitigate the
00:22impact. It has reportedly begun canceling direct import orders from Chinese vendors.
00:26Shares dropped over 5% on Thursday and are down over 70% year-to-date.
00:30For all things money, visit Benzinga.com slash GSTV.