Morning Business Report: Amazon drops tariff price plan, Consumer confidence slips

Amazon has walked back a plan to show customers how tariffs impact product prices.

(LILAMAX)-Amazon has walked back a plan to show customers how tariffs impact product prices. The Wall Street Journal reports the retail giant had considered adding tariff-related pricing details on its budget-friendly platform, Amazon Haul, but not on its main site. However, after backlash from the White House—where the move was seen as “hostile and political”—President Trump reportedly called Amazon founder Jeff Bezos directly to express his concerns.

Meanwhile, tariff talk is weighing heavily on consumers. The Conference Board reports that consumer confidence has dropped to its lowest level since 2011. Supporting that concern, the Bureau of Labor Statistics says job postings in March fell to their lowest since September 2024, pointing to broader economic caution.

Despite economic jitters, the stock market is on a roll. The Dow surged 300 points, marking its longest winning streak since July, driven by optimism around a possible breakthrough in tariff negotiations.

In retail news, Starbucks is finding new ways to speed up service. A pilot program using new technology has cut drink prep times by two minutes for in-store orders. The success has prompted the coffee chain to expand the initiative to hundreds more locations, in hopes of reversing four straight quarters of declining sales. However, CEO Brian Niccol says not all the tech has delivered as expected, and Starbucks will also invest in hiring more baristas.

The impact of U.S.-China tariffs is also hitting global trade. The Port of Los Angeles expects shipping volume to plummet 35% next week, with China accounting for 45% of its cargo business. Officials say about one-quarter of all shipments scheduled for May have been canceled, and it could take five to seven weeks before store shelves begin to feel the pinch.