Amazon Stock Climbs After Trump Tariff Ruling. E-Commerce Stocks Jump.

Amazon (AMZN) stock rose Friday on news that the U.S. Supreme Court has struck down a significant number of the tariffs imposed by President Donald Trump. Other e-commerce stocks like eBay (EBAY), Etsy (ETSY) and Wayfair (W) moved higher as well.

While the main focus for investors is on Amazon’s cloud business and its AI push, tariff concerns weighed on the stock for much of last year. Amazon Chief Executive Andy Jassy warned in a recent TV interview that tariffs are starting to “creep into” prices.

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Amazon — which recently surpassed Walmart (WMT) as the world’s largest company by revenue — relies heavily on imports for its e-commerce business. Roughly half of all sellers on Amazon’s third-party marketplace are based in China, according to analyst estimates.

The Supreme Court ruled Friday that the International Emergency Economic Powers Act previously cited by Trump for many of his import fees “does not authorize the President to impose tariffs.”

Amazon Stock Pushes Higher

On the stock market today**, **Amazon stock is ahead nearly 2% at 208.78 in midday trades. Shares were trading flat before the ruling, which came just after 10 a.m. Eastern time.

Etsy stock is up 6% while eBay stock added 3.7%. Wayfair stock gained 2%.

U.S. shares of PDD Holdings (PDD), the Chinese e-commerce giant that owns Temu, were up 3.4% at 105.31 in recent trades.

Each of the e-commerce stocks is trading with above-average volume.

However, Friday’s moves by Amazon and others are tame compared to the swings that followed tariff announcements last year. For instance, Amazon shares surged more than 8% on May 12 of last year, after Trump announced a deal with China to slash tariffs on imports from the country to 30% from a prior 145%.

The Supreme Court’s ruling was largely expected, with odds on prediction market site Polymarket previously showing a 27% chance that Trump’s argument for the tariffs would prevail.

Meanwhile, Trump administration officials have previously indicated they would seek other methods to impose tariffs if the Supreme Court ruled against them.

Amazon Stock Down 9% This Year

In any event, the gains Friday offer a respite from the pressure Amazon stock has come under since its fourth-quarter earnings report on Feb. 5.

The stock sold off sharply following the report as investors were spooked by the company’s plan to spend $200 billion on capital expenditures in 2026, focused on building data centers to meet AI demand for its cloud business.

Even with Friday’s gain, Amazon stock is down about 9% year to date. A 1% gain on Tuesday broke a streak of nine consecutive losing trading days for Amazon stock.

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