FIRST AIRED: August 31, 2018

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Transcript

00:00:01
>> President Donald Trump's crusade against Amazon over the US Postal Service is hitting some delays. On Friday, Reuters, citing sources, reported that a senate hearing that would have scrutinized what Amazon and others pay to the USPS for package delivery has been cancelled. Reuters Jeffery Dustin broke the story.
00:00:20
>> In the long running saga of President Trump versus Amazon, one of the major source of tension has been the postal service. The President has alleged without evidence that Amazon is costing the postal service a ton of money and turning that postal service into it's personal quote and quote delivery boy.
00:00:38
The President set up a task force in April to review the financial health of the postal service and specified that it had to look into package delivery pricing. So essentially saying that it needed to look into deals with companies like Amazon that give lots of business to the postal service.
00:00:58
>> The rates the postal service charges Amazon, and other bulk customers are not made public, but federal regulators that review contracts haven't raised any issues with the deal with Amazon. The report was delivered to the White House on August 10th, and a senate hearing to discuss it was set for September 5th.
00:01:15
>> Plans for the hearing were ultimately cancelled because the White House, decided not to release the report in time for the hearing. One source told us that the hearing on the postal task force has been postponed indefinitely, so it's unclear what progress or what results will come out of the President's criticism of Amazon and the postal service.
00:01:37
>> Trump's tweets attacking Amazon temporarily knock down its stock earlier this year. But shares have since recovered, and the ecommerce giant is on track to follow Apple into the trillion dollar market valuation club, with it's current share price about 2% away from that mark.