International postal rates overhauled after emergency talks in Geneva

The UN’s postal agency has voted unanimously to reform its fees, potentially averting a US withdrawal.

The compromise deal was agreed after two days of emergency talks by the Universal Postal Union (UPU) in Geneva.

The agreement means the US and other high-volume importers can set their own rates for delivering mail from abroad.

The US had earlier threatened to pull out, arguing that discount rates for countries such as China were putting the US at a massive disadvantage.

It said that it had become cheaper for US consumers to ship items from China rather than buying domestically. As a result, it argued this was unfair to US manufacturers and was costing the US Postal Service up to $500m a year.

Via BBC