Our president does not like deals that are unfair to the U.S.!

Alexa Lardieri reports in USNews,

The Trump administration announced on Wednesday that the United States will be withdrawing from the U.N. agency that oversees postal rates around the world out of frustration with the discounts given to China and some other countries that allow them to ship products to America at cheaper rates than those paid by U.S. companies to ship domestically.

The international agreement determines the rates that postal services can charge to deliver mail and packages that originate with foreign carriers. The disparity – which allows Chinese manufacturers to sell low-priced consumer goods at a competitive advantage – is because China is in a category for developing nations, and the union has allowed those nations to pay lower rates than wealthier nations.

A statement from the White House says President Donald Trump agrees with an August report by the State Department concluding that not enough progress had been made on reforming the Acts of the Universal Postal Union. The report outlined steps the U.S. could take to address the issues, and Trump backed the recommendation to enact self-declared rates by no later than Jan. 1, 2020.

...According to the statement, the State Department will attempt to negotiate agreements that address the issues highlighted in the report. If the negotiations are successful, the administration will remain in the union. If not, the U.S. will withdraw and the United States Postal Service will determine its own shipping rates for international goods.

The administration official told The Hill that the discrepancy in countries' rates has cost the United States $300 million a year, which is a "major economic distortion" that impacts U.S. companies and trade.

Read more here.