- The Universal Postal Union agreed to a compromise Wednesday that would allow the United States to set its own inbound postage rates and remain within the organization the Trump administration had previously threatened to leave.
- Jean-Paul Forceville, the chief negotiator for France’s La Poste, told CNBC earlier that the probability was “pretty high” that a compromise would be reached this week to reform the 144 year-old organization along some of the lines the United States has proposed.
The Universal Postal Union agreed to a compromise Wednesday that would allow the United States to set its own inbound postage rates and remain within the organization the Trump administration had previously threatened to leave.
After rejecting a handful of earlier options, more than half the 192-country body voted in favor of “option V,” which will allow the US to raise prices for packages arriving from other countries, in exchange for a contribution into the Union’s “voluntary fund,” which covers security and pensions. Other countries can also adjust prices on US inbound packages next July and on packages from elsewhere by set amounts each year.
“By remaining in the UPU, the United States retains its important leadership role in the global postal system,” says Kate Muth, executive director of International Mailers Advisory Group, which includes Amazon and eBay. “Mailers and shippers will see no interruption in service through the critical holiday season and beyond.