Amazon CEO Andy Jassy: No Slowdown In Consumer Spending Amid Tariffs

Amazon Inc. (NASDAQ:AMZN) CEO Andy Jassy reported on Wednesday that the company has not experienced any significant changes in consumer spending due to President Donald Trump‘s tariffs.

What Happened: During Amazon’s annual shareholder meeting, Jassy said, “We have not seen any attenuation of demand at this point,” and added that there have been no “meaningful average selling price increases,” according to CNBC.

Despite the ongoing impact of Trump’s tariffs, Amazon and other retailers are still assessing their effects. Amazon previously cited “tariffs and trade policies” as potential factors that could alter its guidance for the current quarter.

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While other retailers like Walmart and Target have warned about potential price hikes due to tariffs, Amazon remains committed to keeping prices low for shoppers. Jassy noted that the company’s diverse marketplace helps customers access the best selection at the best prices.

During the meeting, Amazon investors also reviewed eight external proposals addressing various issues, including the company’s emissions reporting and warehouse working conditions. Amazon advised investors to vote against all of the resolutions which were ultimately rejected, CNBC reports.

Why It Matters: Earlier this month, Amazon had planned to list tariff costs on its site, a move that was later scrapped after President Trump personally called Amazon Chair Jeff Bezos to complain about the company’s plan.

Despite the tariff tensions, a recent relaxation of tariffs between the U.S. and China sparked a significant market rally, adding nearly $830 billion to the market capitalization of several tech companies, including Amazon, underscoring the resilience of tech companies amidst the ongoing tariff disputes.

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