Overview
- Andy Jassy said inventory Amazon and third-party sellers pre-bought in early 2025 ran out in the fall, exposing more listings to tariff-driven increases.
- In a CNBC interview at Davos, he reported that some sellers are passing higher import costs to shoppers, others are absorbing them, and some are splitting the impact.
- Jassy described consumers as resilient but more price sensitive, with shoppers trading down and hesitating on higher-priced discretionary items.
- Trump’s tariff program, including last August’s closure of the de minimis duty-free entry for low-value goods, has raised import costs across many consumer categories.
- A Kiel Institute study estimates about 96% of tariff costs are borne by U.S. consumers versus 4% by foreign exporters, and Amazon shares fell roughly 2%–3% after the comments.