Trump orders review of postal service after blasting Amazon

Trump orders review of postal service after blasting Amazon

President Donald Trump wants a review of the U.S. Postal Service's business practices.

First among the issues the commission is to address is "the expansion and pricing of the package delivery market and the USPS's role in competitive markets".

Representatives from the Treasury Department, Federal Financing Bank, Office of Management and Budget, and Office of Personnel Management will sit on the task force.

The President did not mention Amazon in the order but he has often railed against Amazon - in public and in private conversations with his advisers and friends - complaining about Jeffrey P. Bezos, the company's billionaire founder and chief executive, the daily said. "He repeated a claim that the Postal Service loses "$1.50 on average for each package it delivers for Amazon" and said "only fools, or worse" believe the Postal Service makes money from doing business with Amazon. The website Save The Post Office, however, recently did a lengthy analysis outlining how Amazon nearly certainly pays the postal service more than it costs to ship packages and that taxpayers are not subsidizing Prime's two-day free shipping.

The task force will be required to submit a report to the president within 120 days with recommendations for "administrative and legislative reforms", according to the order.

Additional reporting from Newsy affiliate CNN.

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Analysts estimate Amazon uses the postal service for almost half of its shipping needs and gets a big deal for the high volume.

The Postal Service is a government agency, but it operates as an independent business without direct taxpayer support.

Analysts also note that the USPS retiree pension and health care cost structure account for a large part of the Postal Service's financial problems. Revenue from packages grew by more than $2 billion from the prior year, by far the most of any service category.

That's why the new executive order could be more about Amazon CEO Jeff Bezos's other property, The Washington Post.

"The USPS is on an unsustainable financial path and must be restructured to prevent a taxpayer-funded bailout", the president said in an order that was released on Thursday night.

Even with the long post-office lines at Christmas and the junk mail that follows us everywhere we go, the United States Postal Service is one of the miracles of American life. In 2017 they brought in $19.5 billion, up 11.4 percent over the year prior. The USPS has made some of those payments, exhausting its $15 billion statutory debt limit in the process. "If that doesn't meet the definition of insanity, I don't know what does", Bloomberg's Barry Ritholtz wrote recently.

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