Amazon CEO Andy Jassy says tariffs aren’t denting consumer spending

Amazon CEO Andy Jussey said Wednesday that the company has not seen any signs that consumers will tighten their wallets in the face of President Donald Trump’s drastic tariffs.

Jassy’s comments came at Amazon’s annual shareholders meeting. This was held almost on Wednesdays.

“We did not see any decay in demand at this point,” Jussy said in part of the meeting’s questioning. “We have not yet seen any significant average selling prices rise yet.”

Amazon and other retailers continue to digest the effects of Trump’s tariffs. Earlier this month, Amazon pointed out “tax and trade policy” as one of several factors that could change the current quarterly changes.

Rival retailers Walmart Last week, consumers warned that they could begin to see prices rise from prices later this month and in June. Within days, it sparked Trump’s rage, and he urged the company to “eat tariffs.”

target On Wednesday, he said that prices will need to be increased on some items, Home Depot He said he hopes to maintain current pricing levels.

Amazon faces significant exposure to taxation through retail units. Jassy said last month that the company has “a strategic forward inventory purchase” to stock its products, and is “a rather maniac-focused” on keeping shopper prices low.

Some third-party sellers, which make up about 60% of the products on sale, said Wednesday that while the prices of certain items have risen, some third-party sellers who have chosen to stabilize the price, said.

“I think the diversity and size of our market really helps our customers make the best choice for the best prices,” Jassy says.

Before the Q-and-A portion, Amazon investors listened to eight external suggestions, including reporting the company’s emissions, working conditions in the warehouse, and impacts on the climate of the data center.

All resolutions that Amazon recommended vote for investors have been rejected. The total vote will be released shortly after the meeting.