On February 20, it was reported that U.S. President Trump is expected to sign an executive order as early as this week to dissolve the governing board of the U.S. Postal Service and bring this independent federal agency under the management of the Commerce Department.
The report stated that placing the U.S. Postal Service under the direct control of the Trump administration "could throw this 250 - year - old postal institution and e - commerce transactions worth trillions of dollars into chaos".
It was said that members of the governing board of the U.S. Postal Service are appointed by the president and confirmed by the Senate. Postmaster General Louis DeJoy announced earlier this week that he will resign. He took on this position during Trump's first term in 2020.
The U.S. Postal Service was established in 1775, existing even before the independence of the United States. Its predecessor was the U.S. Post Office Department. After changing to its current name in 1971, it became an independent agency of the executive branch of the U.S. federal government and operates in a corporate manner.
Previously, it was reported that Trump was considering privatizing the U.S. Postal Service because of its long - term and severe losses. In the fiscal year 2024 ending on September 30, the U.S. Postal Service incurred a loss of $9.5 billion.