Amazon ‘destroyed the retail industry across the US’ says Treasury Secretary Mnuchin

Amazon ‘destroyed the retail industry across the US’ says Treasury Secretary Mnuchin

Amazon ‘destroyed the retail industry across the US’ says Treasury Secretary Mnuchin

By / Small Business / Thursday, 25 July 2019 03:03

US Treasury Secretary Steven Mnuchin said that Amazon “destroyed the retail industry across the United States” and that it’s appropriate for the attorney general to investigate the company alongside other tech giants in the sweeping antitrust review that the Justice Department announced yesterday. “There’s no question they’ve limited competition,” Mnuchin told CNBC’s Squawk Box.

Mnuchin said that “although there’s certain benefits” to Amazon’s success, the company has “really hurt small businesses” in the process. “I think it’s absolutely right that the attorney general is looking into these issues,” he said this morning.

 

Read more at The Verge.

Author

NexPro Media Staff

NexPro Media Staff

Leave a comment

Please publish modules in offcanvas position.