Trump Continues Attack on Amazon; Company Shares Dive

Amazon Prime shipping
Credits: Amazon (screenshot from Prime Day Delivers 2017 video)

President Donald Trump continued its attack on Amazon on Monday. He claimed that the United States Postal Service (USPS) is losing so much money from its delivery agreement with the e-commerce giant.

In a tweet, Trump said only fools believe that the post office is making money with Amazon. He emphasized that it is losing a fortune.

The President also blamed the e-commerce giant for the failure of retailers to keep their stores open across the country. He suggested that the playing field is not level since the retailers are paying full taxes.

In November, USPS reported that its revenue dropped by $1.8 billion for the fiscal year 2017—largely due to the rapid declines in first-class and marketing mail volumes.  It financial performance was partly offset by its package deliveries, up by 589 million pieces of 11.4%.