The Blubber

Amazon.com, Inc. (NASDAQ: AMZN) CEO Andy Jassy said on Wednesday that consumer spending remains strong, even as broad tariffs introduced by President Trump take effect. Speaking at Amazon’s annual shareholder meeting, Jassy reported that demand has held steady and that average selling prices have not increased significantly, despite exposure to tariffs on goods imported from China.

To minimize potential disruptions in the supply chain, Amazon made early inventory purchases in an effort to protect consumers from price hikes. Meanwhile, retailers like Walmart and Target have warned of potential price increases, and Home Depot has announced it will keep prices stable. President Trump criticized Walmart’s move, urging the company to “EAT THE TARIFFS.”

Jassy also addressed the impact on third-party sellers, who account for roughly 60% of Amazon’s retail sales. He noted that their pricing responses have varied, but stressed that Amazon’s marketplace scale continues to support a wide selection and competitive pricing.

In a separate development, Amazon came under scrutiny on environmental, social, and governance (ESG) issues. Shareholders rejected all eight external proposals, including measures on carbon reporting, employee safety, and the sustainability of data centers—all of which were opposed by the company’s leadership. Final vote tallies will be released soon.

The meeting followed a challenging stretch for Amazon, including layoffs within its devices division, a safety recall involving its Zoox robotaxi unit, and Jeff Bezos’s plans to sell $4.8 billion worth of stock. Nonetheless, the company expressed confidence in its ability to navigate regulatory and policy challenges while continuing to deliver value to customers.