Boris has Brexit, Donald has Pexit

Pexit?

I made up that word, but yes, the U.S. Postal Service in a few weeks will withdraw from the Universal Postal Union, or UPU. The move has been on the Trump administration agenda since 2018 for a simple reason: It believes, and USPS executives support the view, that the international small package rates set by the UPU mechanisms cheat the Postal Service and give an unfair commercial advantage to — you guessed it — China.

Fifty years ago, UPU decided to give poor nations a break on postal rates for items sent to rich nations. The rates haven’t changed much, but China sure has. By withdrawing, USPS becomes free to “self-declare” its own rates. That could give it a much needed boost in revenue with no corresponding rise in costs.

 

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About time !