During a rally in Phoenix, Arizona on August 22 U.S. President Donald Trump lashed out at a number of his opponents, perhaps most notably he continued his crusade against Amazon.com, Inc. (NASDAQ:AMZN). A poll from Public Policy Polling showed that Trump supporters actually have a largely positive view of the company. Chairman, President, and CEO Jeff Bezos attended the first meeting of Trump’s American Technology Council in order to formulate future strategies in the tech world with the White House. So, what is the source of the rivalry, and can it hurt Amazon in the long term?
In 2013 Jeff Bezos purchased The Washington Post for $250 million. The Washington Post is considered one of the premier establishment newspapers in the U.S., rivalling perhaps only the New York Times in terms of influence. The newspaper has been one of the top critics of Trump, and has published many of the leaks that have emerged from the White House revealing fractures within the administration and spats Trump has had with foreign leaders. In the rally yesterday Trump referred to The Washington Post as “a lobbying tool” for Amazon.
Trump has also taken aim at Amazon for its threat to conventional retailers as a part of his “pro-jobs” initiative. Amazon stock has dropped 6.5% month over month after a disappointing earnings beat. It is safe to expect that tensions will remain hot between the President and the retailing giant as long as The Washington Post continues its critical coverage of the administration.
