EU Files Antitrust Charges Against Amazon (REPORT)

(ReliableNews.org) – Donald Trump warned of Amazon’s harm to the US Postal Service back in 2016. His son, Donald Jr., predicted its “corrupt” business practices would catch up with them one day in a 2019 tweet.

That prediction became a reality on November 10 this year with the European Union’s announcement that they filed antitrust charges against Amazon for leveraging access to sales data to dominate other merchants using its platform.

Amazon conducts business on its website as a merchant that sells its own products and as a retail store used by third-party retailers. According to the European Union, Amazon used non-public business data to spot top-selling products. Then, the company created copies and sold them, frequently at lower prices than their competition.

The European Union issued a press release stating it had a duty to prevent Amazon from practices “artificially favoring” its own retail listings. Fair “undistorted access to consumers” is vital to everyone using Amazon’s platform, it added.

Amazon denies any wrongdoing, and the case will likely take months, if not years, to conclude. It also faces other investigations in Europe for its unfair business practices.

Copyright 2020, ReliableNews.org