Amazon CEO says prices steady despite tariff risk
Why it matters: The Seattle-based retail giant posted a huge quarter, which officials said was powered by a record Prime Day sale and strong consumer demand.
What they're saying: "As we said before, it's impossible to know what will happen," Jassy said.
"Where will tariffs finally settle, especially China? What happens when we deplete the inventory we forward bought, or that our selling partners forward deployed in advance of the tariffs going into effect?" Jassy asked. "If costs end up being higher, who will absorb them?"
Jassy said despite the unknowns through the first half of the year, the company hasn't "yet seen diminishing demand, nor prices meaningfully appreciating."
Between the lines: Jassy says tariffs' effect on retail prices and consumption has been "misreported" — but notes uncertainty looms once pre-tariff inventory runs out.
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