Amazon.com says unfairly targeted by U.S. antitrust bill - Reuters

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Amazon said in a blog post that the bill "jeopardizes two of the things American consumers love most about Amazon: the vast selection and low prices made possible by opening our store to third-party selling partners, and the promise of fast, free shipping through Amazon Prime.
Amazon argued the bill could harm the hundreds of thousands of small businesses that sell goods on its website as its large fines for violations "would make it difficult to justify the risk of Amazon offering a marketplace in which selling partners can participate.
" It said the bill would mandate "Amazon allow other logistics providers to fulfill Prime orders" and could make it "potentially impossible in practice, for Amazon and our selling partners to offer products with Prime’s" free two-day shipping.
"But Walmart is excluded despite also being a large retailer that allows small businesses to sell in its online marketplace.
" Senators Amy Klobuchar and Chuck Grassley, who co-sponsored the measure called the American Innovation and Choice Online Act, say the measure is necessary to protect small businesses.

Amazon.com says unfairly targeted by U.S. antitrust bill - Reuters

The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid WASHINGTON, June 1 (Reuters) - Amazon.com Inc (AMZN.O) on Wednesday lambasted a bill in Congress barring tech giants from giving preference to their own businesses on their websites, saying it unfairly singles the retailer out while not subjecting rivals to similar regulations. The Senate could vote on the bill as early as this month, media outlets have reported. The measure passed the Senate Judiciary Committee in January, despite hefty lobbying from top executives like Apple (AAPL.O) Chief Executive Tim Cook. read more It also passed the House Judiciary Committee last year. Amazon said in a blog post that the bill "jeopardizes two of the things American consumers love most about Amazon: the vast selection and low prices made possible by opening our store to third-party selling partners, and the promise of fast, free shipping through Amazon Prime." Register now for FREE unlimited access to Reuters.com Register It argued the bill only targets one retailer, Amazon, by requiring a market value of at least $550 billion to qualify for regulation and that rivals like Walmart (WMT.N), Target (TGT.N) and CVS (CVS.N) were excluded. "In 2021, Walmart had annual revenues of $559 billion, nearly $90 billion more than Amazon," it added. "But Walmart is excluded despite also being a large retailer that allows small businesses to sell in its online marketplace." Senators Amy Klobuchar and Chuck Grassley, who co-sponsored the measure called the American Innovation and Choice Online Act, say the measure is necessary to protect small businesses. The bill has received the backing of small business groups such as the Main Street Alliance and Small Business Rising. Amazon argued the bill could harm the hundreds of thousands of small businesses that sell goods on its website as its large fines for violations "would make it difficult to justify the risk of Amazon offering a marketplace in which selling partners can participate." It said the bill would mandate "Amazon allow other logistics providers to fulfill Prime orders" and could make it "potentially impossible in practice, for Amazon and our selling partners to offer products with Prime’s" free two-day shipping. Big tech firms including Meta Platforms Inc's Facebook (FB.O) and Apple, have been under pressure in Congress amid allegations they have abused their outsized market power. A long list of bills have been proposed to rein them in, but none have become law. Register now for FREE unlimited access to Reuters.com Register Reporting by David Shepardson; Editing by Edwina Gibbs Our Standards: The Thomson Reuters Trust Principles.
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