(Bloomberg) — Amazon.com Inc. (AMZN) Chief Executive Officer Andy Jassy said the online retailer hasn’t seen any meaningful reduction in consumer spending or an increase in prices as a result of tariffs introduced by US President Donald Trump earlier this year.

“We’ve not seen any attenuation of demand at this point,” Jassy said Wednesday during Amazon’s annual shareholder meeting when asked about tariffs. He also said the company hasn’t seen any significant increase in average prices.

Investors are carefully monitoring reports from US retailers for signs of how shoppers and brands are responding to tariffs, which were as high at 145% on imports from China before Trump announced a 90-day pause to give time for negotiations.

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Speaking publicly about the effects of tariffs is a risky proposition for executives of US companies. Walmart Inc. drew Trump’s ire after it reported last week that tariffs would likely increase prices in its stores.

Amazon executives said earlier this month that the company was bracing for the possibility that the escalating tariffs would create a more difficult business climate.

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