Trump says no $10B loan for U.S. Postal Service unless it raises rates for Amazon

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U.S. President Donald Trump said Friday that 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 Postal Service is a joke because they’re handing out packages for Amazon and other internet companies and every time they bring a package, they lose money on it,” Trump told reporters in the Oval Office.

The president was responding to a question about 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.

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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.

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Trump said the changes the administration will insist on will make it a “whole new ballgame” at the Postal Service. He said the Postal Service did not want to make the changes because they did not want to offend Amazon and other companies.

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