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USPS Pauses Acceptance of CN/ HK Packages; FedEx, SF To Keep Delivering
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The U.S. Postal Service (USPS) announced a temporary pause on acceptance of packages from China and Hong Kong, while letters (up to 38 cm in length or 1.9 cm in thickness) will not be affected, after the U.S. President Donald Trump's 10% tariff hike on Chinese goods went into effect on Tuesday (4th), along with Washington's elimination of the "small value exemption" for parcels. Express carriers including FedEx (FDX.US) and SF HOLDING (06936.HK) said that they will keep sending packages to the U.S.. Morningstar senior equity analyst Chelsey Tam said she thought it will take some time for the USPS to sort out how to implement the new tax before it will again be allowed to accept packages from China, but that it will be a major challenge, because there were 4 million small duty-free packages a day in 2024 alone, and it will be very difficult to check them all. AAStocks Financial News |
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