BREAKING NEWS Minnesota health officials announce 5th Coronavirus-related death as positive tests hit 441 Full Story
SEVERE WX : Wind Advisory View Alerts
CLOSINGS: View Closings

Ex-Treasury secretary compares Trump to Mussolini

Former Treasury Secretary Larry Summers believes President Trump's recent attacks on Amazon are un-American."G...

Posted: Apr 5, 2018 2:58 PM
Updated: Apr 5, 2018 2:58 PM

Former Treasury Secretary Larry Summers believes President Trump's recent attacks on Amazon are un-American.

"Going on jihads with the power of the federal government against companies whose CEOs' private activity he doesn't find congenial - that's not the stuff of democracy," Summers said in an interview Thursday on CNN's "New Day. "That's the stuff of much more totalitarian countries."

Amazon founder and CEO Jeff Bezos privately owns the Washington Post, which Trump often derides as "fake news" for reporting on the administration. Trump has claimed without evidence that the Post is a "lobbying group for Amazon."

Related: Trump is hitting Amazon where it hurts

In the past week, Trump has fired off five false or misleading tweets about Amazon, including that the company doesn't pay state and local taxes and is causing the Postal Service to lose money. (Amazon collects sales tax in every state that charges one and remits it to the states, and it also pays the post office to deliver packages to customers' doors.)

Related: Trump vs. Amazon: Let's set the record straight

Trump's tweets, as well as reports raising the possibility the Trump administration may look into tighter regulation or antitrust lawsuits against Amazon, have driven down the company's stock.

"Make no mistake, that's a Mussolini tactic, not an American tactic," Summers said of Trump targeting a private company. He called Trump's tweets "potentially quite dangerous for our business confidence."

Summers, a Democrat, led the Treasury Department under President Clinton and served as President Obama's top economic adviser from 2009-2010. He has been an outspoken critic of Trump and the administration's economic policies in the past.

Related: Larry Summers: Trump's tariffs are 'crazy, dumb' economic policy

The former Treasury secretary said Trump's attacks on Amazon should make "pro-business Republicans" nervous.

"It's the kind of thing that if a liberal, progressive Democrat did, they would be berserk about how dangerous it was for the economy," Summers said.

Article Comments

Mason City
Broken Clouds
46° wxIcon
Hi: 50° Lo: 36°
Feels Like: 46°
Albert Lea
Overcast
43° wxIcon
Hi: 44° Lo: 34°
Feels Like: 36°
Austin
Broken Clouds
45° wxIcon
Hi: 47° Lo: 36°
Feels Like: 41°
Charles City
Overcast
52° wxIcon
Hi: 50° Lo: 36°
Feels Like: 52°
Rochester
Overcast
42° wxIcon
Hi: 44° Lo: 34°
Feels Like: 35°
Severe weather Saturday before the sun comes out
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

First full day of stay at home order in Minnesota

Image

Sean Weather 3/28

Image

Weekend setup for rain, storms, and snow

Image

Seniors give their best quarantine advice

Image

Coronavirus claims Alden coffee shop

Image

How Corona Impacts Weather Forecasts

Image

Man Missing after boat accident

Image

Minnesota girl's basketball all-star series highlights athletes without games

Image

Chris' PM Weather Forecast 3/27

Image

Neighbors Helping Neighbors Serves Rural Areas

Community Events