Amazon CEO Andy Jassy Says Tariffs Have Not Affected Sales

Amazon CEO Andy Jassy told shareholders during a virtual meeting Wednesday (May 21) that the tariffs the President Donald Trump administration imposed on imported goods have not affected sales.

“We also haven’t yet seen any meaningful average selling price increases,” Jassy said, according to a Wednesday Reuters report. “When you have 2 million sellers, they’re not all going to take the same action.”

Some sellers have increased prices while others have kept prices the same, he said, per the report.

Asked if Amazon was cutting back on its AI investments, Jassy said the company has “no plans to reduce our AI investment,” adding that reports citing the opposite are “not accurate,” GeekWire reported Wednesday.

In late April, a Wells Fargo analyst said AWS was slowing down data center deployments, citing industry sources. Microsoft was also said to be slowing or pausing some early-stage projects.

However, Amazon said the changes in data center deployments were a matter of timing the buildout to better match customer demand, not cutting back on overall investment, per the GeekWire report.

Read also: The 2025 Certainty Project – Tariffs and Business Uncertainty: The Current State of Play

During the meeting, Amazon shareholders vetoed all eight of the shareholder proposals. The proposals ranged from separating the roles of chair and CEO to requesting a report on data usage in AI offerings.

The shareholder proposals were the following:

• Mandatory policy separating the roles of CEO and chair. While Jassy serves as CEO and founder Jeff Bezos is the chair, there is no mandatory policy to separate the two roles. Bezos held both roles until he stepped down as CEO in 2021.
• Request for a report on Amazon’s advertising practices to monitor whether it avoids advertising on platforms that express political and religious viewpoints.
• Request for a report on climate-related risk disclosures at Amazon, including greenhouse gas emissions.
• Request for an additional report on how Amazon plans to meet climate change-related commitments it has made on greenhouse gas emissions, given the massive energy needs of AI and data centers.
• Request for a third-party assessment of Amazon’s board and its committee structure related to human rights risks in AI.
• Request for a report on packaging materials due to the growing plastic pollution in oceans.
• Request for a report on warehouse working conditions.
• Request for a report on data usage oversight in AI offerings.

Shareholders also re-elected all 12 board nominees and approved Amazon’s executive compensation plan and the ratification of Ernst & Young as its independent auditor.

Amazon will provide the full vote count in a securities filing.

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Read more:

• Amazon: Independent Sellers Gain Sales and Adopt GenAI-Powered Tools
• Amazon Cuts 100 Jobs in Devices Unit Amid Ongoing Efficiency Drive
• AWS, Microsoft Slow Down Data Center Deployments

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