Amazon CEO says tariffs are inflating prices and buyers are looking for bargains
While the legality of President Trump’s tariffs winds its way through the courts, their effects are beginning to show up in prices.
During an interview at the World Economic Forum in Davos, Switzerland, Amazon CEO Andy Jassy said he is starting to see tariffs “creep into” pricing, as some sellers are “passing on those higher costs to consumers in the form of higher prices.”
Jassy said that while consumers are still spending, they are becoming more price conscious.
“I think that wherever they can, they are trying to trade down in price — they are looking for bargains wherever they can find bargains,” he said. “I see people a little more hesitant on higher-priced discretionary items.”
Trump has maintained that other countries are footing the bill for his tariffs. But new research suggests Americans will ultimately be the ones paying those higher prices.
Jassy said that while consumers are still spending, they are becoming more price conscious.
“I think that wherever they can, they are trying to trade down in price — they are looking for bargains wherever they can find bargains,” he said. “I see people a little more hesitant on higher-priced discretionary items.”
Trump has maintained that other countries are footing the bill for his tariffs. But new research suggests Americans will ultimately be the ones paying those higher prices.
