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FROM OUR D.C. CORRESPONDENT

White House accuses Amazon of “hostile and political act”

Challenging Amazon.

That wasn't on my Bingo card for the Trump White House, especially with Amazon founder Jeff Bezos’ recent efforts to seemingly cozy up to the president. Bezos owns the Washington Post, scrapped an endorsement of Kamala Harris, and sat right near the president along with other tech titans at Trump’s inauguration in January.

A report that Amazon was preparing to list how much Trump’s tariffs were adding to the cost of products sold on its site lit a fire under the White House.

“This is a hostile and political act by Amazon,” White House press secretary Karoline Leavitt said when asked about the plan. “Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?”

When Leavitt was asked a follow-up question — “is Bezos still a Trump supporter?” — she wouldn't comment.

I later learned Trump and Bezos spoke on the phone shortly after the president was informed of the report about Amazon’s tariff price plan. Trump told reporters while leaving the White House that Bezos was “very nice” then added “he did the right thing” and “solved the problem very quickly.”

The news was first reported by Punchbowl News (disclosure — my husband is also a journalist and works at that news organization) early Tuesday. Amazon later downplayed the report, saying it was only under consideration for the part of its operation that sells ultra cheap goods and would not be put in effect. 

“The team that runs our ultra low cost Amazon Haul store considered the idea of listing import charges on certain products,” Tim Doyle, an Amazon spokesperson, said in a statement. “This was never approved and is not going to happen.”

Regardless of the details of what Amazon was discussing, the message from the White House today to corporate America was clear: Don’t trash Trump’s tariff policies.

This presidency is proving tricky for major retailers to navigate. Top CEOs want to win favor with the administration and don't mind spending big dollars to do so, but criticism will not be tolerated.

—Margaret Chadbourn

Amazon launches rockets to compete with Musk

The space race is heating up as Amazon has taken a bold step forward in satellite-based internet services. On Monday night Amazon successfully launched 27 satellites into orbit as part of its ambitious Project Kuiper. Powered by an Atlas V rocket, the satellites were deployed at an initial altitude of 280 miles above Earth before their propulsion system begins raising them to 393 miles. This marks the beginning of Amazon’s plan to operate over 3,200 satellites in the coming years, aiming to provide high-speed internet connectivity to even the most remote corners of the planet.

Project Kuiper is Amazon’s answer to SpaceX’s thriving Starlink network, which already boasts thousands of active satellites serving millions of customers worldwide. While Kuiper will focus on residential customers in underserved regions, it is also expected to integrate closely with Amazon Web Services, enabling businesses to process large amounts of data from remote equipment, such as wind farms and offshore platforms.

Amazon's success will depend on scaling its satellite network while building hundreds of ground stations. With nearly 7,000 Starlink satellites already in orbit, careful management of low Earth orbit congestion will be critical. Or, you know…there’ll be a satellite crash.

Trump’s first 100 days worst for stocks since Gerald Ford

Donald Trump’s first 100 days in office mark the worst performance for the U.S. stock market since Gerald Ford’s presidency. The sharp decline of the S&P 500 $SPX ( ▲ 0.58% ) by more than 7% since Inauguration Day highlights the tangible effects of presidential policy and narrative on investor confidence and market dynamics.

The president’s aggressive stance on trade policy and executive orders have added pressure to global markets, particularly impacting industries reliant on international commerce. While some view his moves as an opportunity for economic realignment, others fear they may destabilize businesses and threaten investor relations worldwide.

“We’ve decided to have a fight with every kid in the playground at the same time,” David Kelly, chief global strategist at JPMorgan Asset Management told the Financial Times. “Markets are telling us that there is doubt about whether the US has the advantage when they’ve taken on the whole rest of the world.”

As the nation debates Trump’s legacy, investors and citizens alike will watch closely to see how his policies shape America’s economic future. What do you think? Is it time to buy the dip? Let us know in today’s poll.