Andy Jassy, CEO of Amazon, speaks throughout an unveiling occasion in New York on Feb. 26, 2025.
Michael Nagle | Bloomberg | Getty Pictures
Amazon CEO Andy Jassy mentioned Wednesday that the corporate hasn’t seen any indicators of shoppers tightening their wallets within the face of President Donald Trump‘s sweeping tariffs.
Jassy’s feedback got here throughout Amazon’s annual shareholder assembly, which was held just about on Wednesday.
“We’ve not seen any attenuation of demand at this level,” Jassy mentioned throughout a question-and-answer portion of the assembly. “We additionally have not but seen any significant common promoting worth will increase.”
Amazon and different retailers proceed to digest the impression of Trump’s tariffs. Earlier this month, Amazon pointed to “tariffs and commerce insurance policies” as considered one of a number of components that might make its steering for the present quarter topic to vary.
Rival retailer Walmart warned final week that customers might begin seeing worth hikes from tariffs later this month and in June. Inside days, that sparked the ire of Trump, who urged the corporate to “EAT THE TARIFFS.”
Goal mentioned Wednesday it can doubtless have to hike costs on some gadgets, whereas Residence Depot mentioned it expects to take care of its present pricing ranges.
Amazon faces important publicity to the levies via its retail unit, which sources some items from tariff-hit China. Jassy mentioned final month the corporate made some “strategic ahead stock buys” to fill up on items and is “fairly maniacally centered” on maintaining costs low for customers.
Some third-party sellers, which account for roughly 60% of merchandise offered, have elevated costs on sure gadgets, whereas others have opted to maintain costs regular, Jassy mentioned Wednesday.
“I believe that the range and the dimensions of our market actually helps clients have the perfect number of the perfect costs,” Jassy mentioned.
Earlier than the Q-and-A portion, Amazon buyers listened to eight outdoors proposals addressing the corporate’s emissions reporting, warehouse working circumstances and the local weather impression of its information facilities, amongst others.
The entire resolutions, which Amazon advisable buyers vote towards, have been rejected. Vote totals are anticipated to be launched quickly after the assembly.
