Trump continues his Twitter war with Amazon and the stock is sinking

Jeff Swensen/Getty Images
  • President Trump attacked Amazon once again in a tweet on Monday.
  • It was the third time in the past week that the president went after Amazon.
  • Trump slammed the online retailer for its relationship with the US Postal Service and its effects on retailers.

President Donald Trump attacked Amazon once again on Monday, continuing a days-long tirade against the online retail giant.

“Only fools, or worse, are saying that our money losing Post Office makes money with Amazon,” Trump said. “THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country…not a level playing field!”

The tweet was the third in the past week in which the president took aim at Amazon. The Twitter attacks come after a report from news site Axios said Trump was “obsessed” with the company and its CEO, Jeff Bezos.

Trump’s antipathy for Amazon is long running, as is his focus on the company’s relationship with the US Postal Service. While some estimates show that the USPS is charging below market rate for package delivery, many of its woes are actually attributable to the slowdown in direct mail – rather than package deliveries.

According to reports, Trump has been exploring ways to change the retailers tax treatment – or hit it with antitrust action. Analysts say Trump could also try to prevent the Department of Defence from signing a lucrative contract with Amazon’s Amazon Web Services platform as a way to go after the online retailer.

The White House said Thursday that the president did not have a plan to go after Amazon but wanted to create a “level paying field” for all US businesses.

After the tweet, Amazon’s stock sank in early trading on Monday. As of 2:20 p.m. ET, Amazon was down about $US74 a share, or 5.1% – to $US1,373 per share.

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