Afternoon Coffee: U.S. Takes on China’s Package Discount, America has Milk Glut

In another move in the chess match with China, the Trump administration is moving ahead with its bid to set its own rates for packages coming into the U.S., The Wall Street Journal reports. The tactic requires that the U.S. withdraw from a 144-year-old international postal body that sets rates. China is deemed a Tier 3 country, which gets a deep discount, and the U.S. is Tier 1, which pays a higher rate. “The move addresses complaints from U.S. companies decrying China’s ability to undercut competition through cheap delivery costs,” the Journal says.

Got Milk Glut?

Dairy farmers in the U.S. increased their herds years ago to meet the demand for a yogurt boom, but when tastes changed, milk suppliers were left with an overabundance, Bloomberg reports.

Brexit Talks Stall

Britain’s prime minister meets with European Union members Wednesday, but talks for a Brexit deal seem stalled, Reuters reports. The U.K. leader doesn’t seem to have any “creative” new ideas, as the summit leader had suggested, Reuters reports.

Fed Eyes Rate Hike Despite Trump

And finally, an economic update: The Fed indicated that it will continue its path to raise interest rates, so President Donald Trump is on the warpath against the Fed, CNBC reports.

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