• Read More: Amazon stuns with shock bid to buy TikTok 

By BEN SHIMKUS, CONSUMER REPORTER FOR DAILYMAIL.COM

Published: 13:55 BST, 10 April 2025 | Updated: 14:24 BST, 10 April 2025

Amazon’s CEO said customers should start preparing to pay more. 

Andy Jassy, the top boss at the low-cost e-commerce company, said tariffs coming from the White House will make consumer prices rise in an interview on CNBC.

He said the giant online store, which hosts thousands of third-party sellers, will likely see prices rise as sellers ‘pass that cost on’ to consumers. 

‘I understand why, I mean, depending on which country you’re in, you don’t have 50 percent extra margin that you can play with,’ he said. 

Earlier this morning, Jassy, who has a net worth of around $500 million, released his annual shareholder letter, where he shared Amazon’s strategy to avoid some tariff costs. 

The company bought a series of strategic, low-cost items to store in its expansive American warehouse network. 

Jassy also said he’s seen shoppers rush buys on his website to get ahead of tariff costs.  

‘We know customers care a ton about selection,’ Jassy said in the interview. 

Andy Jassy, the Amazon CEO, said third-party sellers will likely ‘pass on’ costs to customers

‘We’re going to try to do everything we can to keep prices as low as possible for customers, and we’re going to ship things as fast as we possibly can.’