If your next Amazon order seems more expensive, President Donald Trump’s sweeping tariffs may be partially to blame, Amazon CEO Andy Jassy said Tuesday.
“So you start to see some of the tariffs creep into some of the prices, some of the items,” he said. “Some sellers are deciding that they’re passing on those higher costs to consumers in the form of higher prices, some are deciding that they’ll absorb it to drive demand and some are doing something in between.”
On Tuesday, though, Jassy said: “We’re going to do everything we can to work with our selling partners to make prices as low as possible for consumers, but you don’t have endless options.”
And the White House said it maintains that foreign exports are footing that tariff bill.
“The average tariff imposed by America has increased by almost tenfold under President Trump, and inflation has continued to cool from Biden-era highs,” White House spokesman Kush Desai said in a statement.
“The Administration has consistently maintained that foreign exporters who depend on access to the American economy, the world’s biggest and best consumer market, will ultimately pay the cost of tariffs, and that’s what’s playing out,” he added.
Amazon isn’t the only retailer warning of higher prices because of tariffs. Walmart, Target and Home Depot and many other companies have publicly said tariffs are making products more expensive. And while overall consumer inflation was modest last year, many businesses surveyed by the Federal Reserve in its latest Beige Book, a collection of anecdotes, warned they’re planning bigger price hikes this year.