International Postal Agreement to be Amended

Quote:

President Trump moved Wednesday to withdraw from a 144-year-old international postal agreement that enables businesses in China to mail small packages to the United States at a hefty discount, an arrangement government officials said boosts foreign competitors and costs the U.S. Postal Service roughly $170 million per year.

http://www.msn.com/en-us/money/marke...vhn?ocid=ientp

Quote:

Dropping out of the postal treaty, first ratified in 1874, is expected to exacerbate tensions with China, but the Postal Service and business groups applauded the action Wednesday. “The current system has led to the United States subsidizing the imports of small packages from other countries,” said Jeff Adams, spokesman for the U.S. Postal Service. Under the treaty, which sets fees that national carriers in 192 countries charge for mail delivery, the U.S. Postal Service bills China-based companies at a sharply discounted rate for parcels that weigh less than 4.4 pounds.

I'd heard about some law that was costing the USPS lots of money, but I never really found out exactly what it was. It should have clued me in when I was able to order small items from Hong Kong for a tiny amount in shipping. :)