U.S. Treasury Secretary Steven Mnuchin said on Wednesday that online giant Amazo...
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin attends a working session during the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 17, 2019. Ian Langsdon/Pool via REUTERS
WASHINGTON - U.S. Treasury Secretary Steven Mnuchin said on Wednesday that online giant Amazon.com Inc “destroyed the retail industry across the United States.” Mnuchin said he looked forward to hearing the results of a Justice Department probe, announced on Tuesday, into whether big U.S. technology firms engage in anticompetitive practices, the strongest sign yet that the Trump administration is stepping up its scrutiny of Big Tech.
“If you look at Amazon, although they’re certain benefits to it, they’ve destroyed the retail industry across the United States,” Mnuchin told CNBC. “I don’t have an opinion other than I think it’s absolutely right the attorney general is looking into these issues and I look forward to listening to his recommendations to the president.
A Justice Department spokesman declined to say on Tuesday which companies it would scrutinize under the antitrust probe, but said the review would consider concerns raised about “search, social media, and some retail services online” - an apparent reference to Google, Amazon, Facebook Inc (
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