Trump Jr.'s 'Amazon of guns' could make millions under new proposed firearm rule [View all]
Source: msn/Reuters
10h
WASHINGTON, July 2 (Reuters) - Donald Trump Jr. helped take an online retailer known as the “Amazon of guns” public last year. Now, GrabAGun, where the U.S. president's son is a shareholder and board member, could reap a windfall from a proposed rule change at Trump's Bureau of Alcohol, Tobacco, Firearms and Explosives that would make it easier to ship guns directly to people's homes.
If finalized, the rule would be among the most consequential changes to the U.S. gun policy in two decades, potentially driving huge growth in online gun sales, according to ten industry officials, store owners, and gun-control advocates interviewed by Reuters.
The proposal would allow licensed dealers to ship firearms directly to in-state residents who undergo an online identity verification and background check, along with a seven-day waiting period after notifying local law enforcement. Currently, online buyers must pick up firearms at physical stores and undergo in-person background checks unless they have a permit.
Some gun shop owners, industry officials and gun control advocates argue the direct shipping of firearms poses significant public safety and security risks and threatens the viability of small brick-and-mortar gun shops. The change could benefit Trump Jr., whose more than 300,000 shares in GrabAGun are worth more than $700,000 – down from more than $5 million last year. A spokesperson for Trump Jr., Andrew Surabian, said in a statement that the president’s son had no role in the ATF proposal.
Read more: https://www.msn.com/en-us/money/technology/trump-jr-s-amazon-of-guns-could-make-millions-under-new-proposed-firearm-rule/ar-AA275IF9
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