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Rani Molla

White House calls Amazon’s reported plan to display tariff costs next to price a “hostile and political act”

Amazon, which gets many of its goods imported from China, reportedly plans to start displaying how much President Trump’s tariffs add to an item’s price. The White House is not a fan.

“This is a hostile and political act by Amazon,” White House Press Secretary Karoline Leavitt said at a press conference this morning, relaying a message from President Trump.

REPORTER: Amazon will soon display a number next to the price of each product that shows how much the Trump tariffs are adding. Isn't that a perfect demonstration that it's the American consumer who is paying for these policies?LEAVITT: This is a hostile and political act by Amazon.

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— Aaron Rupar (@atrupar.com) April 29, 2025 at 9:03 AM

Leavitt also said, holding up a printout of a Reuters article from 2021, “Amazon has partnered with a Chinese propaganda arm. This is another reason Americans should buy American.”

Amazon subsequently partly denied the report, telling Washington Post reporter Jeff Stein it never considered doing so on its main site, just its low-cost Amazon Haul site:

“The team that runs our ultra low cost Amazon Haul store has considered listing import charges on certain products. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”

Temu recently made a similar move.

Amazon is down 1.1% in morning trading.

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Walmart falls after CEO of more than a decade steps down

Walmart’s stock fell as low as 3% this morning in premarket trading on news that its longtime CEO, Doug McMillon, who helped the company beef up its e-commerce segment against Amazon, will be stepping down.

While Walmart’s sales came in above expectations last quarter, it missed on quarterly earnings. It’s also facing an increasingly dominant Amazon, which is pushing further into Walmart’s territory with same-day grocery delivery in more than 1,000 cities and towns in the US, with plans to expand to 2,300 by the end of the year.

And unlike Walmart, Amazon, in addition to e-commerce and physical stores, has a number of other, much higher-income revenue streams — most notably its fast-growing cloud business, AWS. Earlier this year, Amazon nudged ahead of Walmart in overall revenue, and is expected to continue to build on that lead when Walmart reports Q3 earnings next week.

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Tencent Music has enough users — it just needs them to start paying

The stock is down this morning, undoing some of its stunning year-to-date rise.

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Skydance Officially Closes Deal To Merge With Paramount

Paramount Skydance says its DTC streaming biz will be profitable this year

The studio reported its third-quarter earnings on Monday, the first since the Skydance takeover, and now sees $3 billion in cost savings (up from $2 billion).

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