P.M. BRIEFING : Post Office Cuts Overseas Rate
The U.S. Postal Service today announced that it is slashing prices on its overseas express mail for parcels up to half a pound from $18 to $10.75 in an all-out campaign to grab a bigger share of the lucrative market.
Until the new rate goes into effect July 1, postal authorities are offering an introductory rate of $8.75 for up to half a pound.
Other international couriers charge between $14 and $69 for similar service, said Peter K. Eichorn, senior assistant postmaster general for marketing and communications.
“It’s a workhorse weight category that meets most daily mailing needs,” he said at a press conference launching the new rate.
The Postal Service’s share of the international express mail market is 7.4%, and postal officials hope to at least double that share within a year, he said.
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