US Announces Withdraw From Postal Treaty; International Shipping Prices Expected to Rise
The United States has announced plans to withdraw from a 144-year postal treaty that sets lower international shipping rates. The US claims this treaty gives countries like China and Singapore an unfair advantage that floods the US market with cheap packages. The BBC reports the withdraw of this treaty will increase shipping costs from China by between 40% and 70%.
The treaty in question is the Universal Postal Union, which established that each country should retain all money it has collected for international postage. The US Chamber of Commerce has said this treaty, ‘leads to the United States essentially paying …read more