U.S. Postal Service Cutting Rates to Win e-commerce Business

The U.S. Postal Service (USPS) is aggressively slashing prices for its biggest e-commerce companies in time for the holidays, aiming to steal business from FedEx and UPS.

USPS won approval from its regulators in August to lower prices by as much as 58 percent on certain Priority Mail packages for customers shipping at least 50,000 parcels a year.

In documents filed with the Postal Regulatory Commission, both UPS and FedEx say the agency is taking advantage of its status as a near monopoly to unfairly snag a bigger piece of the e-commerce pie.