A report saying Amazon would list how much tariffs contribute to an item's price drew criticism from Donald Trump's White House on Tuesday and sent shares down.
"This is a hostile and political act by Amazon," White House press secretary Karoline Leavitt said at a press conference before US markets opened on Tuesday.
The e-commerce giant plans to start breaking out the cost of tariffs for each product it sells, Punchbowl News reported early Tuesday.
An Amazon spokesman, however, told Business Insider that "the team that runs our ultra-low-cost Amazon Haul store considered the idea of listing import charges on certain products. This was never approved and is not going to happen."
Amazon shares pared some earlier losses, trading down about 0.8% as of 11:40 a.m. ET.
Retailers and major consumer brands have said that they will have to raise the prices that customers pay to offset the cost of Trump's tariffs.
While Trump earlier this month paused plans to add tariffs on goods from many markets, such as the European Union, he has raised tariffs on imports from China, a major source of consumer goods in the US.
Shoppers will likely see higher prices in stores by the end of May as a result of the tariffs, one of Trump's former advisers said.
