WASHINGTON (AP) – 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.
Under the rescue package legislation, 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.