Do you expect their annual turnover to go up? They might get a bigger slize of the pie but the pie itself is getting smaller. Pre trade AMZN was down 7%

Well, given that 90% of stuff on Amazon is relabeled crud from Ali Express...

Down 6% in premarket, will have to wait and see but likely wont help them much as tariffs will impact a significant amount of their products regardless.

Most of the stuff on amazon comes from China, so I doubt it.

In addition to what everyone else has said, if Europe goes through with the new "Big Tech tax" and/or tariffs on digital services, AWS would presumably take a big hit.