Trump slams Amazon's tariff transparency plan, speaks to Jeff Bezos
VIDEO: Press Secretary Karoline Leavitt briefs members of new media
Watch Press Secretary Karoline Leavitt brief members of new media.
WASHINGTON, D.C. - President Donald Trump makes a call to Amazon founder, Jeff Bezos, after a report about the company's tariff transparency plan.
What we know:
During a press briefing at the White House on Tuesday, the administration slammed plans by Amazon to show how much Trump’s tariffs have raised prices on certain goods, calling it "a hostile and political act."
"Jeff Bezos was very nice. He was terrific," Trump told reporters on Tuesday. "He solved the problem very quickly. Good guy."
White House Press Secretary Karoline Leavitt called the move a "hostile and political act," adding that she had spoken about the matter with President Trump earlier.
In a statement to CNN, an Amazon spokesperson stated "was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties."
"This was never approved and not going to happen," an Amazon spokesperson said.
The backstory:
In a recent article, Punchbowl News reported that Amazon is set to "display how much of an item’s cost is derived from tariffs — right next to the product’s total listed price."
This plan would paint a clear picture for Amazon shoppers of just how much the president's tariffs are affecting the cost of items. Trump has slapped 145% tariffs on imports from China and a 10% minimum tax on all other countries.
Some companies like Shein and Temu have announced price increases due to the cost of tariffs.
In recent years, the two shopping platforms have found immense success among American shoppers. Both retailers ship an average of one million packages a day to the U.S., according to parcel-shipping consultant ShipMatrix.
Temu, Shein to raise prices for US consumers starting next week: What to know
Online retailers Shein and Temu tell customers to buy their products 'now at today's rates.'
Shein and Temu rapidly grew in the U.S., thanks to the "de minimus" exemption that allowed duty-free entry for merchandise priced below $800. However, Trump’s recent crackdown on low-value imports has pressured the retailers to change their business models.
The Source: Information from the Associated Press, CNN, and Punchbowl News was used to write this report.