Trump to Postal Service: Hike Rates If You Want Coronavirus Loan

WASHINGTON, D.C. — In an attempt to pressure the U.S. Postal Service to raise its rates, President Trump said today that he will refuse to authorize a $10 billion loan from the Treasury Department — unless the agency complies with an ultimatum to quadruple prices.

"The Post Office is a joke," Trump told reporters Friday, according to The Washington Post, which earlier this week broke the news that president was pondering a move to take "unprecedented control" over an agency he has long criticized and sought to change.

The loan in question was part of a $2 trillian coronavirus relief package passed last month, but Trump now says the money is contingent on USPS raising prices.

"If they don’t raise the price, I’m not signing anything," he said.

Trump's ultimatum was met with outrage from the American Postal Workers Union, which touts 200,000 members. In a statement, APWU President Mark Dimondstein called the move "a power grab," while accusing Treasury Secretary Steven Mnuchin of "attempting to exploit the crisis to raise prices, demonize heroic postal workers and cut service, all so private delivery companies can profit."

For more about Trump's position on the Postal Service, read the full story in The Washington Post.