Amazon “Dstroyed” US Retail I-ndustry

According to overseas media reports, US Treasury Secretary Steven Mnuchin shelled Amazon on Wednesday. According to him the e-commerce giant has “ruined the country’s retail sector.”

Mnuchin stated he’s anticipating hearing the Ministry of Justice investing Amazon. The Justice Department also declare a comprehensive investigation into whether big US tech businesses are engage in anti-competitive behaviour. This is actually the toughest measure where the Trump government has bolstered its own review of technology businesses.

Mnuchin stated in an interview: If you take a look at Amazon, though people do get benefit from it, it’s ruined the retail sector in the USA. I’ve no additional remarks, only that the Ministry of Justice is exploring these problems is totally right, I look forward to hearing their ideas into the President.

Amazon defended itself, stating that 90 percent of earnings come from physical shops. An Amazon spokesperson said: Nowadays, independent vendors accounts for at least 58 percent of Amazon’s total product sales. And also their earnings growth rate is double that people, reaching $160 billion in 2018.

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