The New York Post: Trump slams US Postal Service, calling it “dumber and poorer”

President Trump on Friday slammed the US Postal Service for becoming “dumber and poorer” as Amazon AMZN, -1.40%   grows richer.

“Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!” Trump wrote on Twitter.

The agency has lost money for 11 straight years, mostly because of pension and health care costs. While online shopping has led to growth in its package delivery business, that hasn’t offset declines in first-class mail.

David Vernon, an analyst at Bernstein Research who tracks the shipping industry, estimated in 2015 that the post office handled 40 percent of Amazon’s volume the previous year, according to Bloomberg News.

He estimated at the time that Amazon pays the USPS $2 per package, which is about half what it would pay UPS and FedEx.

The Postal Service reported a net loss of $2.1 billion in the third quarter of 2017, and has $15 billion in outstanding debt.

Federal regulators moved recently to allow bigger increases in stamp prices beyond the rate of inflation, which could eventually increase companies’ shipping rates.

Trump often blasts Amazon CEO Jeff Bezos, who also owns the Washington Post.

Amazon’s stock was down in early morning trading.

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