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US Treasury Secretary: Amazon “destroys” the retail sector

New York US Treasury Secretary Steven Mnuchin has sharply criticized Amazon, the world’s largest online retailer. The company “has destroyed retail in the United States,”. Thus, the pressure on the Group is growing: Amazon is likely to be one of the companies that will subject to the Ministry of Justice, a competition investigation. “I have no other opinion than that it is absolutely right for the Minister of Justice to investigate these issues, and I look forward to hearing his recommendations to the President,” Mnuchin said.

Amazon defended itself by saying that 90 percent of all sales were made in brick-and-mortar stores. “Today, independent sellers account for more than 58 percent of Amazon’s physical gross merchandise sales, and their sales grew twice as fast as our own, reaching a total of $ 160 billion in 2018,” a spokesman said.

Mnuchin found more lenient words for Google. US President Donald Trump had announced an investigation into allegations to what extent the search engine operator is working with the Chinese government. “Google is an American company that wants to help the US,” Mnuchin said.

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