Like many other retailers, Amazon and its sellers increased their stockpiles of goods before US President Donald Trump's import tariffs took effect in April 2025. However, these reserves are depleting by autumn, Amazon CEO Andy Jassy stated during an interview with CNBC on the sidelines of the World Economic Forum in Davos, Switzerland.

"You will start to see a portion of the tariffs reflected in the selling price of certain items," Jassy said. He explained that as import tariffs rise, some sellers decide to pass the additional cost to consumers, others absorb it to maintain demand, and some adopt a middle-ground approach.

Amazon packages at a warehouse in New Jersey, US, in December 2025. Photo: Reuters

These statements contrast with Jassy's remarks in June 2025, when he told CNBC that the company had not yet observed "significant price increases." At that time, Amazon faced criticism from Trump and US officials following reports that the company intended to display additional import tariff costs alongside the prices of some products.

Following a meeting between Trump and Amazon founder Jeff Bezos, a company spokesperson clarified to CNN that this move "was never considered for the Amazon website." This option was only explored for certain products on the subsidiary site Haul, which sells items priced under 30 USD.

On 20/1, Jassy stated: "We will do everything we can with our selling partners to keep prices as low as possible for consumers. However, options are not limitless."

Amazon reported that overall price levels have not changed significantly from expectations. An Amazon spokesperson noted: "While prices from some sellers and brands are increasing, overall product fluctuations on Amazon are consistent with normal changes."

Meanwhile, the White House maintains that foreign exporters are the ones bearing the tariff costs. White House spokesperson Kush Desai stated: "Foreign exporters, who rely on access to the US economy – the world's largest and most attractive consumer market – will ultimately pay the cost of import tariffs. And that is what is happening." He also asserted that US inflation is cooling from its peak under former President Joe Biden.

However, Amazon is not the only retailer warning of potential price increases due to import tariffs. Walmart, Target, Home Depot, and many other businesses have stated that these tariffs are driving up product prices. A recent survey by the US Federal Reserve (Fed) also indicated that many businesses plan more aggressive price hikes this year.

Ha Thu (according to CNN, CNBC)