Amazon CEO says to expect higher prices

Sellers will likely pass the extra cost caused by tariffs onto consumers.

Transcript

00:00As the world remains in wait-and-see mode over the next 90 days, one of the world's largest retailers has a message for consumers.

00:07Be prepared to pay more.

00:09Amazon CEO Andy Jassy says the company has made some strategic moves to try and keep costs down on its website,

00:15but it's a different story when it comes to third-party sellers.

00:18Jassy says they might not have a choice but to increase prices, saying, quote,

00:21I understand why. I mean, depending on which country you're in, you don't have 50% extra margin that you can play with.

00:27I think they'll try and pass the cost on.

00:30The CEO went on to say that Amazon has seen consumers begin to stock up on certain items in anticipation of rising prices.

00:36He says, quote, people have not stopped buying, and in certain categories, we do see people buying ahead.

00:41But it's hard to know if it's just an anomaly in the data because it's just a few days or how long it's going to last.

00:47That'll do it for your daily briefing.

00:48From New York City, I'm Kelsey Barbario with The Street.