The White House criticized Amazon's reported plan to show how tariffs are increasing prices, calling it a "hostile and political act." White House press secretary Karoline Leavitt made this statement before US markets opened on Tuesday.
Amazon denied the plan's approval, stating it was never under consideration for their main website. An Amazon spokesman clarified that while a team considered the idea for a specific store, it was never implemented.
The report initially caused Amazon shares to drop, but losses were later partially recovered. The stock traded down about 0.8% as of 11:40 a.m. ET.
Retailers and brands have previously indicated that they would raise prices to offset tariff costs. Although Trump paused tariff plans for certain markets, tariffs on imports from China remain in place, potentially leading to higher prices for consumers by the end of May.