President Trump threatened the U.S. Postal Service on Friday, claiming that if it didn't raise its shipping prices then he wouldn't approve of the $10 billion loan currently in the works for the struggling agency. "The Post Office is a joke," Trump said, as reported by The Washington Post. "The Post Office should raise the price [of package delivery] four times … If they don't raise the price, I'm not signing anything."
As part of the $2 trillion CARES pandemic stimulus act that Trump signed into law last month, the Post Office was due to receive a $10 billion loan from the U.S. Treasury, which Trump now says he will ask Secretary Steve Mnuchin to refuse to sign if the agency does not implement the changes desired by the administration. The Post Office is currently struggling from a plunge in revenues of about 30 percent due to the decline of business mail, stemming from the coronavirus pandemic.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - January 19, 2025Cartoons Sunday's cartoons - moving to Canada, billionaire bootlickers, and more
-
5 inflammatory cartoons on the L.A. wildfiresCartoons Artists take on climate change denial, the blame game, and more
-
The problems with the current social care systemThe Explainer The question of how to pay for adult social care is perhaps the greatest unresolved policy issue of our time
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
