Trump Orders A Review Of The US Postal Service

14 Апреля, 2018, 20:17 | Author: Shannon Newton
  • Trump convenes task force to study finances of the US post office

President Donald Trump's new executive order asking for an evaluation of the United States Postal Service doesn't name Amazon, but a CNBC analyst called it a "shot across the bow" at the Seattle-based online retail giant.

Amazon's founder, Jeff Bezos, also owns The Washington Post, which has aggressively covered the Trump administration.

The order gives the new commission 120 days to report its findings. In this announcement, Trump said the postal service is "on an unsustainable financial path and must be restructured to prevent a taxpayer-funded bailout".

"Only fools, or worse, are saying that our money losing Post Office makes money with Amazon". For one, the volume of first-class mail it delivers has been declining for years, but USPS is still making a profit on packages.

Amazon is the frequent target of Trump's ire: In the past, he has accused Amazon of harming retailers and having "a huge anti-trust problem". "The Postal Service receives NO tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations", the USPS website says. The Postal Service then delivers the packages to their destinations. But the USPS is still most likely undercharging businesses - not just Amazon - to ship packages.

A White House official said the presidential order was meant to come up with solutions to the problems at the Postal Service. Amazon and the Postal Service signed a five-year deal in 2013 to deliver packages on Sundays, and both entities have declared the arrangement a success.

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The federal government will be taking a closer look at the U.S. Postal Service's finances.

The task force will be led by treasury secretary Steven Mnuchin or his designee, according to the order. Credit Suisse estimates this could amount to a hit of $1 billion to $1.8 billion to Amazon's bottom line.

At the same time, the Postal Service's package delivery business is growing: The post office's fiscal report for 2017 shows that packages and shipping brought in $19.5 billion in revenue, or 28 percent of the total for the year.

Those gains, however, are not enough to offset declines in its mail business, its "main source of revenue and contribution". Other studies will include the decline in mail volume and its implications for USPS self-financing, the USPS monopoly over letter delivery and mailboxes and the definition of the "universal service obligation" considering changes in technology, e-commerce, marketing practices and customer needs.

The agency is also drowning in "higher than normal" costs of retiree benefits, including pensions and health care.

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