Trump 'has no actions' against Amazon - White House

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Mr Trump accused Inc of not paying enough tax, taking advantage of the United States postal system and putting small retailers out of business, but did not present any evidence to back up his criticisms or suggest any specific actions he planned to take.

Amazon's stock has tumbled 9.2% amid a three-session losing streak, weighed by President Trump's criticism of the company. He also notes how they "use our Postal System as their delivery boy (causing tremendous loss to the U.S.) and are putting thousands or retailers out of business!"

Amazon collects and pays sales tax in every state that charges one, and that's virtually every state.

Read Friday's Arkansas Democrat-Gazette for full details.

"Amazon is doing great damage to tax-paying retailers".

Another source called the president's view of Amazon's relationship with the US Postal Service "inaccurate". After the Axios report was published, the value of Amazon shares plummeted. 27% of young millennials polled said that they would open an additional checking account with Amazon for $10 a month, while one-tenth said they'd replace their current account and go to Amazon instead.

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It's no secret that Trump hates Amazon.

Amazon has already waded into the financial service waters with Amazon Cash, which lets shoppers add physical cash to their Amazon account by visiting brick-and-mortar stores. Amazon briefly fell 4.6 percent in the first half hour of trading before rallying to snap a two-day skid. USPS declined to comment on Trump's tweet.

Because Amazon ships so many packages though the post office, it pays a lower rate than most customers. On Wednesday, Sanders said the Trump administration now had "no announcements and no specific policies or actions that we are now pushing forward or considering taking".

It is clearly true that consumers' shift to e-commerce companies like Amazon has forced many traditional retailers to close stores.

It's not clear what the president hopes to get out of his offensive against Amazon, but Amazon is run at the behest of Jeff Bezos, who also owns The Washington Post, a favorite media target for the president. But other megastores like Walmart share much of the blame for that.

Trump has in the past been vocal about his disdain for Amazon, Bezos, and the Washington Post, which Bezos owns.