Trump keeps bashing Amazon for its Postal Service pact — but he’s overlooking a different controversial deal that gives Chinese merchants an advantage in the U.S.

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Amazon CEO Jeff Bezos (r) speaks with Microsoft CEO Satya Nadella and President Donald Trump.

The reason might rhyme with “Beff Jezos.”

Another day, another tweet by President Donald Trump aimed at Amazon and its delivery deal with the United States Postal Service. Amazon’s stock is down 9 percent in the week since a report from Axios about Trump’s obsession with Amazon kicked off a series of tweets by the president.

But while Trump continues to harp on this relationship — with questionable claims that we’ll get to in a bit — he continues to overlook a different delivery partnership that can put U.S. merchants at a disadvantage right here in their own country: It’s called ePacket.

The program, designed to boost cross-border trade in the age of online commerce, allows merchants in countries including China to ship small, lightweight goods to the U.S. at very low rates in partnership with the U.S. Postal Service. These sellers also get other perks like delivery tracking at no extra cost.

The program has been a boon to these Chinese businesses as well as the online shopping marketplaces where they hawk their wares, like Wish, eBay and, to a lesser extent, Amazon.

But it has rankled U.S. merchants who have found themselves sometimes paying higher rates to ship items to customers right here in their own country than Chinese merchants are paying to send goods to shoppers on the other side of the globe.

So why is Trump obsessed about one delivery partnership that he says is bad for the U.S. but not the other? One could reasonably speculate it has something to do with Amazon CEO Jeff Bezos and his ownership of one of Trump’s least-favorite media outlets: The Washington Post.

So about that Amazon deal. By law, the Postal Service is not permitted to lose money on delivery deals like Amazon’s. And the regulator who oversees the USPS has determined each year that it does not.

But a separate 2017 study by Citi analysts suggested that the commission that oversees the USPS may be using an outdated method to account for costs and that fees on each Amazon delivery would need to be $ 1.41 higher in 2018 to make the USPS whole.

That one report has given Trump all he needs to pounce. What it’ll take to get him to turn his attention to the ePacket deal instead is anyone’s guess.

Update: Maybe just a tweet from his 2020 campaign manager, Brad Parscale?

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President Trump accuses Amazon of scamming the USPS

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This morning, Trump once again tweeted about online retailer Amazon.com, alleging that it is scamming the United States Postal Service and that the agency should raise its shipping rates. He also says that The Washington Post — owned by Amazon CEO Jeff Bezos — should register as a lobbyist.

Earlier this week, Axios reported that President Donald Trump wanted to take on Amazon. The President followed up with a tweet on March 29th, saying that Amazon was taking advantage of the USPS, paying little in state and local taxes, and putting retailers out of business.

The New York Times outlined earlier this week that Amazon has collected sales taxes since April 2017. The retailer reported $ 957 million in income taxes last year. The Times also…

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Donald Trump Is Still Going in on Jeff Bezos and Amazon, Still Getting Basic Facts Laughably Incorrect

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If you’re the kind of person who gets up in the morning wondering what kind of mischief the American President got up to on Twitter while you were sleeping, first, seek help. Also, congrats, you got a fresh batch of Rage at Amazon Dot Com again, today.

The (apparently one-sided) Trump-Bezos Feud has been going on for years, but continues to heat up as Donald Trump…continues to live in the White House.

Refresher: Axios reported the most recent rumblings of Trump’s obsession with (and resentment of) the company. Several people privy to the matter noted that POTUS was interested in going after the company wielding anti-trust laws.

But it wasn’t clear whether this was because of some of Amazon’s actual practices, or perhaps because Jeff Bezos, the Amazon CEO, also happens to own the Washington Post. And as usual, there’s no better way to gain insight into the President’s mindset (and foreign policy decisions, and White House hiring) than Twitter:

The ire that some heads of state reserve for terrorists or enemies of the state is now being allotted by Trump to Bezos and his world-dominating corporate powerhouse.

In classic Trump fashion, the facts aren’t exactly on his side. Amazon’s been paying taxes in California since 2012, and charged customers in all other states, according to the New York Times. And instead of taking advantage of the U.S. Postal Service, Amazon’s actually one of the few reasons the embattled agency is still around, the Wall Street Journal reports.

That’s not to say Amazon doesn’t have its problems. Its warehouse employees are systematically stressed and overworked. And that goes without mentioning that whole worker-tracking wristband thing. Among other things. So far, the only fallout from Trump’s Tweets is Amazon’s stock taking a dip in the past few days. It’s anyone’s guess as to whether those drops will affect the company in the long term (or if this is all Trump wants to accomplish with his bluster).

Not that it matters. Trump’s going to keep doing his thing, to whatever aim he has (or whatever has his attention-deficit-addled Eye of Sauron at any given moment). In other words: Just another Friday in 2018.

The post Donald Trump Is Still Going in on Jeff Bezos and Amazon, Still Getting Basic Facts Laughably Incorrect appeared first on Futurism.

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Amazon’s stock always recovers after a Trump tweet makes it fall

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In the past year, Amazon’s average daily price change has been about 0.3 percent.

Today President Trump again took to Twitter to accuse Amazon of paying “little or no taxes.” His tweet sent the stock down about 4 percent this morning as investors feared Trump could raise taxes on the e-commerce company or try to break it apart.

But, just a few hours later, the stock has recovered and is up about 1 percent today. In fact, that’s the recurring theme to any Trump-induced stock plunge for Amazon. After it falls, it always recovers, either within a few hours, or up to a month at the longest count.

In the past year, Amazon’s average daily price change has been about 0.3 percent, so sending the stock down several percentage points is a big drop. However, the fall is usually short-lived, like today:

march 29 trump tweet amazon

As you can see, after this morning’s tweet, Amazon stock came back up to pre-tweet levels at around 1:30 pm.

(Yesterday, there was another Trump-induced Amazon’s stock plunge after a news report outlined his obsession with reining in Amazon. That sent the stock down about 5 percent, but, technically, that wasn’t a tweet.)

Below is a look at some of Trump’s other tweets about Amazon and how the stock has behaved in their wake. It’s important to note that there are lots of other things going on in the world besides Trump’s tweets that could affect the stock, but the president certainly has an impact.

December 29 2017 Trump tweet
August 16 2017 Trump amazon tweet
July 24 2017 trump tweets about amazon
June 28 2017 trump tweets amazon

In general, these tweets seem to have no lasting effect on Amazon’s stock price. In the last twelve months, the stock has climbed 67 percent:

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Trump Takes Aim at Amazon, and Shareholders Run for the Hills

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The only person in the world who isn’t furious at Facebook? President Donald Trump.

He reserves his ire for Amazon, according to a report from Axios. And the news has Amazon shareholders running scared.

According to one of the five sources Axios talked to for their report, Trump can’t stop thinking about the online retailer. “He’s obsessed with Amazon,” the source said. “Obsessed.”

The claims Axios’s sources make are pretty wide-ranging.

One claims the POTUS has mused aloud about “[going] after Amazon with antitrust or competition law.” Another details Trump’s belief that Amazon is getting “a free ride from taxpayers.”

According to the sources, Trump is also very aware that Amazon CEO Jeff Bezos owns The Washington Post, which he views “as Bezos’ political weapon.”

trump hates amazon
Image Credit: Amazon

Hours after Axios’s report went live, shares of Amazon stock fell as much as 7.4 percent — about $ 53.6 billion of Amazon’s market value, according to Reuters.

“With Facebook and regulatory worries, the last thing nervous tech investors wanted to see was news that Trump is targeting Bezos and Amazon over the coming months as this remains a lingering cloud over the stock and heightens the risk profile in the eyes of the Street,” GBH Insights analyst Daniel Ives told Reuters.

Important to note: Trump hasn’t actually done anything that could put Amazon’s future in jeopardy. This movement in the market is simply based on the news that he wants to do something.

The acts of skittish investors show that, if Trump gets his way, Amazon could be in even bigger financial trouble.

The post Trump Takes Aim at Amazon, and Shareholders Run for the Hills appeared first on Futurism.

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After Trump iPhone, Caviar Returns With Custom 24k Gold Putin iPhone X

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Luxury phone customiser Caviar has created a new 24k gold Putin iPhone X with Russian President Vladimir Putin’s face carved into the back.

[ Continue reading this over at RedmondPie.com ]

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Recode Daily: Trump orders tariffs on $60 billion of Chinese-made goods — mostly tech products

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President Donald Trump holds up a signed presidential memorandum aimed at what he calls Chinese economic aggression in the Roosevelt Room at the White House on March 22, 2018, in Washington, D.C.

Plus, Jack Dorsey predicts that bitcoin will become the world’s universal currency; Dropbox goes public today at $ 21 per share; delete these apps and return to a simpler way of life.

Trump is aiming at China, with plan to impose tariffs on about $ 60 billion worth of Chinese-made goods. The proposed list of some 1,300 products, which will be released within two weeks, will mostly focus on tech, and would effectively block the Chinese imports from entering the U.S. Trump also appointed John Bolton, a China hawk, as his new national security adviser. Wall Street is jittery: The Dow closed down more than 700 points. [Adam Behsudi / Politico]

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Dropbox IPOs today on Nasdaq under the trading name DBX at an above-expectations $ 21 per share. Dropbox, which waited a decade to go public, will have an initial maket cap of $ 8.3 billion — significantly less than the company’s last private valuation of $ 10 billion. How the company fares in its first few quarters should give some indication on how highly valued private tech companies can fare on public markets in 2018. Here’s how Dropbox’s biggest backer — venture capital firm Sequoia — positioned itself to earn between $ 2 billion and $ 3 billion on its initial investment. [Theodore Schleifer / Recode]

Twitter and Square CEO Jack Dorsey predicted that bitcoin will become the universal world currency in about 10 years. Square now allows the buying and selling of bitcoin on its payment app. Bitcoin is now trading around $ 9,000, down from the peak of $ 20,000 it hit on some exchanges in December. [Lucinda Shen / Fortune]

The music business had its second consecutive year of growth — thanks to streaming. Flat used to be the new up for the music labels. Now they’re up for real — sales increased 14 percent to $ 8.7 billion last year. The industry’s significant leap in revenue is due entirely to streaming services like Spotify and Apple Music, which are more than balancing the decline in CD sales and download sales. [Peter Kafka and Rani Molla / Recode]

David Scott’s gun-loving friends were kicked off Facebook. So he started Gunbook. The British gun enthusiast started his version of the site three weeks ago, and says the “social network for shooters” already has more than 1,000 members, around 60 of whom are from the U.S. Facebook has banned all advertisements for guns; YouTube announced this week that it will ban videos promoting the sale or manufacture of firearms. [Emily Dugan and Mark Di Stefano / BuzzFeed News]

Top stories from Recode

ModCloth’s former CEO Matt Kaness has left Walmart just a year after the acquisition.

The former Urban Outfitters executive’s role had been in question for several months.

WeWork’s massive growth has made it the second-biggest private office tenant in Manhattan.

It started out with a single SoHo building in 2010.

More than 80 percent of women in tech say they feel pressure to return early from parental leave.

Nearly a third worry about losing their jobs, according to a new report from Indeed.

Scooter-sharing startup Bird has hired former Lyft executive David Estrada to be its chief legal officer.

Estrada also briefly worked at Kitty Hawk; before Lyft, he was the legal director at Google X.

Facebook and Cambridge Analytica: What just happened?

On the latest episode of Too Embarrassed to Ask, Recode’s Kurt Wagner and Kara Swisher, with The Verge’s Lauren Goode, explain the company’s user-data debacle — and what might happen next.

This is cool

Delete these iPhone apps and return to a simpler way of life.

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How relationship therapist Esther Perel would diagnose Melania Trump

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Based on what she knows about him, Perel isn’t interested in having the president as a client.

Sex and relationship therapist Esther Perel hasn’t met Melania Trump — but, if she had to guess, she has a hunch about what’s going on between the First Lady and President Trump.

Perel spoke with Recode’s Kara Swisher at South By Southwest, in part to promote her new book “The State of Affairs” and the second season of her podcast, Where Should We Begin? Their full interview is the newest episode of our podcast, Recode Decode, hosted by Kara Swisher.

“I don’t know a clue about this woman,” Perel said of Melania Trump. “But I have a feeling from the little bit I’ve listened to her that she actually — this is the way I sometimes say it — ‘when you pick a person, you pick a story.’ And sometimes you’re recruited for a play that you didn’t audition for.”

Perel, who was born in Belgium and educated in Israel, said she was sympathetic to the reality that Melania may not have expected to be in the media spotlight every day when she moved to America and married Donald Trump.

“I see this woman like she’s in the wrong play,” she added. “It’s not the character she wants to be. Like, how the hell did she find herself — she just wanted a green card! And I’ve been there! I also wanted a green card one day. And then she maybe wanted someone with whom she could have an arrangement, and everyone’s entitled to their relational arrangement. But this, this is not a play that she auditioned for.”

You can listen to Recode Decode on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.

On the new podcast, Perel also talked more generally about the #MeToo movement that has exposed harassers, abusers and rapists across tech, media, politics and beyond. The president has been dogged by allegations of sexual misconduct from 19 women, and two others have recently sued to be released from nondisclosure agreements that prevent them from discussing consensual affairs they allegedly had with the President.

As a therapist, Perel said, men like Trump who wind up on her couch “look at me with contempt” and don’t want to be helped. People who use their wealth or title as a means of getting others into bed are acting on deep-seated insecurities, she said.

“Sexually powerful men don’t harass, they seduce,” Perel said. “It’s the insecure men who need to use power in order to leverage the insecurity and the inaccessibility or the unavailability of the women. Women fear rape, and men fear humiliation.”

“Underneath the use of power lies a deep sense of powerlessness,” she added. “And then you manipulate the power that you have in order to cover that.”

If you like this show, you should also sample our other podcasts:

  • Recode Media with Peter Kafka features no-nonsense conversations with the smartest and most interesting people in the media world, with new episodes every Thursday. Use these links to subscribe on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.
  • Too Embarrassed to Ask, hosted by Kara Swisher and The Verge’s Lauren Goode, answers the tech questions sent in by our readers and listeners. You can hear new episodes every Friday on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.
  • And Recode Replay has all the audio from our live events, including the Code Conference, Code Media and the Code Commerce Series. Subscribe today on Apple Podcasts, Spotify, Pocket Casts, Overcast or wherever you listen to podcasts.

If you like what we’re doing, please write a review on Apple Podcasts — and if you don’t, just tweet-strafe Kara.


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Cambridge Analytica CEO: ‘we ran all the digital campaign’ for Trump

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At the same time Cambridge Analytica announced it's suspending CEO Alexander Nix, Channel 4 News released a second report on the company based on undercover videos. In this report, it shows executives claiming that their work was responsible for Trum…
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Cambridge Analytica’s Facebook data abuse shouldn’t get credit for Trump

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‘I think Cambridge Analytica is a better marketing company than a targeting company’

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