President Donald Trump says he won’t approve a $10 billion loan for the U.S. Postal Service unless the agency raises charges for Amazon and other big shippers to four to five times current rates.
The president addressed reports his administration plans to force major changes in postal operations as the price for approving a $10 billion loan that was included in the government’s $2 trillion economic rescue package.
"The Postal Service is a joke because they’re handing out packages for Amazon and other internet companies, and every time they put out a package, they lose money on it," Trump said. "So Amazon and other internet companies and delivery companies are dropping all of their — not all of them — but a big portion of packages into a Post Office, and the Post Office is supposed to deliver the packages, and they lose a lot of money."
Treasury Secretary Steven Mnuchin must approve the loan before the Postal Service can receive the money. Officials at the Postal Service had no immediate reaction to Trump’s comments.