Amazon is reported to be in the running to acquire American Apparel's bankrupt business.

The rumored deal immediately raised speculation about Amazon's growing ambitions in the fashion business.

But an acquisition of the struggling clothing retailer could also solve one of Amazon's biggest ongoing problems: tension with President-elect Donald Trump.

Trump, who frequently criticized Amazon during his campaign, won his way to the White House in large part by promising to keep manufacturing jobs in the US. He has already taken credit for keeping thousands of jobs from moving overseas at companies including Carrier in Indiana.

American Apparel, best known for its "Made in the USA" slogan, says it's the largest clothing manufacturer in North America. With 4,500 workers employed, it also calls itself the "largest sewing facility in North America."

So by acquiring American Apparel, Amazon could save thousands of US manufacturing jobs and win Trump's support.

With the starting price to buy part of American Apparel currently at $66 million, according to Reuters, Amazon could score a big win by spending a relative pittance (Amazon had roughly $12 billion in cash on its balance sheet at the end of the most recent quarter).

Of course, there are a lot of unknowns in Amazon's reported bid, and it's unclear whether Amazon even wants to buy American Apparel's manufacturing facilities. The only official bid, from the Canadian clothing brand Gildan, just includes the rights to American Apparel's brand, with an option to buy its manufacturing operations and inventory. Gildan's bid doesn't include American Apparel's 110 retail stores, according to Reuters.

Also, Amazon may have to convince shareholders of the logic behind acquiring a failing apparel business that has hundreds of million dollars in debt. With Amazon reportedly accelerating its investments in other areas, like logistics and grocery stores, investors may not welcome the idea of taking on American Apparel's mounting losses.

(Amazon has been making a stronger push into the fashion retail business.Amazon)

But if Amazon could somehow pull off a deal for all of American Apparel's factories and retail stores, there are a lot of other potential business benefits to go along with the political and public-relations benefits, especially given that Amazon is forecast to pass Macy's as the top US apparel seller in 2017. Some of them include:

- Increased brick-and-mortar presence: Amazon has been introducing private-label brands over the past year. Having a physical space to showcase its product could significantly increase its sales and brand awareness.