European Postal Services Suspend Shipment of Packages to US over Import Tariffs

22 May 2024, Saxony, Schkeuditz: The logo of DHL is seen on a package in Saxony's DHL Hub. (dpa)
22 May 2024, Saxony, Schkeuditz: The logo of DHL is seen on a package in Saxony's DHL Hub. (dpa)
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European Postal Services Suspend Shipment of Packages to US over Import Tariffs

22 May 2024, Saxony, Schkeuditz: The logo of DHL is seen on a package in Saxony's DHL Hub. (dpa)
22 May 2024, Saxony, Schkeuditz: The logo of DHL is seen on a package in Saxony's DHL Hub. (dpa)

The end of an exemption on tariff duties for low-value packages coming into the United States is causing a wide array of postal services to pause shipping as they await for more clarity on the rule.

The exemption, known as the “de minimis” exemption, allows packages worth less than $800 to come into the US duty free. A total of 1.36 billion packages were sent in 2024 under this exemption, for goods worth $64.6 billion, according to data from the US Customs and Border Patrol Agency.

It is set to expire next Friday. On Saturday, multiple postal services around Europe announced that they are suspending the shipment of many packages to the United States amid a lack of clarity over new import duties.

Postal services in Germany, Denmark, Sweden and Italy said they will stop shipping most merchandise to the US effective immediately. France and Austria will follow Monday, and the United Kingdom Tuesday.

“Key questions remain unresolved, particularly regarding how and by whom customs duties will be collected in the future, what additional data will be required, and how the data transmission to the US Customs and Border Protection will be carried out,” DHL, the largest shipping provider in Europe, said in a statement.

The company said starting Saturday it will “will no longer be able to accept and transport parcels and postal items containing goods from business customers destined for the US.”

A trade framework agreed on by the US and the European Union last month set a 15% tariff on the vast majority of products shipped from the EU. Packages under $800 will now also be subject to the tariff.

Many other European postal services say they are pausing deliveries now because they cannot guarantee the goods will enter the US before Aug. 29. They cite ambiguity about what kind of goods are covered by the new rules, and the lack of time to process their implications.

Postnord, the Nordic logistics company, and Italy's postal service announced similar suspensions effective Saturday.

“In the absence of different instructions from US authorities ... Poste Italiane will be forced, like other European postal operators, to temporarily suspend acceptance of all shipments containing goods destined for the United States, starting August 23. Mail shipments not containing merchandise will continue to be accepted,” Poste Italiane said Friday.

Shipping by services such as DHL Express remains possible, it added.

Björn Bergman, head of PostNord’s Group Brand and Communication, said the pause was “unfortunate but necessary to ensure full compliance of the newly implemented rules.”

In the Netherlands, PostNL spokesperson Wout Witteveen said the Trump administration is pressing ahead with the new duties despite US authorities lacking a system to collect them. He said that PostNL is working closely with its US counterparts to find a solution.

“If you have something to send to America, you should do it today,” Witteveen told The Associated Press.

Austrian Post, Austria’s leading logistics and postal service provider, stated that the last acceptance of commercial shipments to the US, including Puerto Rico, will take place Tuesday.

France's national postal service, La Poste, said the US did not provide full details or allow enough time for the French postal service to prepare for new customs procedures.

″Despite discussions with US customs services, no time was provided to postal operators to re-organize and assure the necessary computer updates to conform to the new rules,″ it said in a statement.

The UK’s Royal Mail said it would halt US shipments on Tuesday “to allow time for those packages to arrive before duties kick in.” Items originating in the UK will require a 10% duty for items over $100, it said.

PostEurop, an association of 51 European public postal operators, said that if no solution can be found by Aug. 29 all its members will likely follow suit.



Tesla Loses Title as World's Biggest Electric Vehicle

(FILES) BYD's display booth is seen during the 32nd Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Greater Jakarta, on July 23, 2025. (Photo by Yasuyoshi CHIBA / AFP)
(FILES) BYD's display booth is seen during the 32nd Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Greater Jakarta, on July 23, 2025. (Photo by Yasuyoshi CHIBA / AFP)
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Tesla Loses Title as World's Biggest Electric Vehicle

(FILES) BYD's display booth is seen during the 32nd Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Greater Jakarta, on July 23, 2025. (Photo by Yasuyoshi CHIBA / AFP)
(FILES) BYD's display booth is seen during the 32nd Gaikindo Indonesia International Auto Show (GIIAS) at the Indonesia Convention Exhibition (ICE) in Tangerang, Greater Jakarta, on July 23, 2025. (Photo by Yasuyoshi CHIBA / AFP)

Tesla lost its crown as the world’s bestselling electric vehicle maker on Friday as a customer revolt over Elon Musk’s right-wing politics and stiff overseas competition pushed sales down for a second year in a row.

Tesla said that it delivered 1.64 million vehicles in 2025, down 9% from a year earlier.

Chinese rival BYD, which sold 2.26 vehicles last year, is now the biggest EV maker, The Associated Press reported.

For the fourth quarter, sales totaled 418,227, falling short of the 440,000 that analysts polled by FactSet expected. The sales total may likely have been impacted by the expiration of a $7,500 tax credit that was phased out by the Trump administration at the end of September.

Even with multiple issues buffeting the company, the stock finished 2025 with a gain of approximately 11%, as investors hope Tesla CEO Musk can deliver on his ambitions to make Tesla a leader in robotaxi service and get consumers to embrace humanoid robots that can perform basic tasks in homes and offices.

Shares of Tesla rose almost 2% before the opening bell Friday.


Precious Metals Start 2026 Strong on Rate-cut Optimism, Global Risks

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
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Precious Metals Start 2026 Strong on Rate-cut Optimism, Global Risks

(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)
(FILES) A worker polishes gold bullion bars at the ABC Refinery in Sydney on August 5, 2020. (Photo by DAVID GRAY / AFP)

Precious metals kicked off the New Year on a strong note on Friday, rebounding from year-end declines as tensions between major powers and US rate cut hopes boosted investor appetite for bullion.

Spot gold climbed 1.7% to $4,387.58 per ounce, as of 1322 GMT, after hitting a record high of $4,549.71 on December 26. It had dropped to a two-week low on Wednesday, Reuters reported.

US gold futures for February delivery gained 1.3% to $4,399.20/oz.

"Precious metals have kicked off 2026 on ⁠a firmly positive note ... after a bout of profit taking in the last days of 2025, bulls seem to be drawing strength from geopolitical risk and hopes of lower US rates this year," said Lukman Otunuga, senior research analyst at FXTM.

On the physical demand side, gold traded at a premium in top hubs India and China for the first time in about ⁠two months, as a recent correction from all-time highs helped lift retail demand.

Bullion surged 64% in 2025, its biggest annual gain since 1979, driven by Fed rate cuts, geopolitical tensions, strong central bank buying, and rising ETF holdings.

"Gold prices are expected to move higher in 2026 - we target a move to USD 5,000/oz - driven by lower real yields, ongoing global economic concerns, and uncertainty surrounding US domestic policy," said UBS analyst Giovanni Staunovo.

"Both central banks and investors are likely to continue favoring real assets like gold for its freedom from counterparty risk."

Investors currently expect at least two ⁠quarter-point Fed rate cuts this year.

Non-yielding assets tend to do well in low-interest-rate environments.

Spot silver advanced 3.4% to $73.71 per ounce, after hitting an all-time high of $83.62 on Monday, while platinum jumped 3.3% at $2,121.38 per ounce, after rising to an all-time high of $2,478.50 on Monday.

Both metals recorded their best year ever, with silver leading by posting 147% annual gains, driven by its designation as a critical US mineral, supply shortages and low inventories amid rising industrial and investment demand.

Palladium rose 1.9% to $1,636.19 per ounce, after closing the previous year up 76%, its best in 15 years.

All metals retreated sharply earlier in the week as traders booked profits after CME raised margins on precious metal futures.


Oil Steadies after Biggest Annual Loss Since 2020

FILE PHOTO: A worker stands in front of storage tanks at the Rosneft oil refinery in Tuapse at the Russian Black Sea coast September 6, 2006. REUTERS/Sergei Karpukhin/File Photo
FILE PHOTO: A worker stands in front of storage tanks at the Rosneft oil refinery in Tuapse at the Russian Black Sea coast September 6, 2006. REUTERS/Sergei Karpukhin/File Photo
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Oil Steadies after Biggest Annual Loss Since 2020

FILE PHOTO: A worker stands in front of storage tanks at the Rosneft oil refinery in Tuapse at the Russian Black Sea coast September 6, 2006. REUTERS/Sergei Karpukhin/File Photo
FILE PHOTO: A worker stands in front of storage tanks at the Rosneft oil refinery in Tuapse at the Russian Black Sea coast September 6, 2006. REUTERS/Sergei Karpukhin/File Photo

Oil prices steadied on the first day of trade in 2026 after registering their biggest annual loss since 2020 as investors weighed oversupply concerns against geopolitical risks including the war in Ukraine and Venezuela exports.

Brent crude futures dropped 4 cents on Friday to $60.81 a barrel by 1029 GMT while US West Texas Intermediate crude was down 3 cents at $57.39, said Reuters.

Russia and Ukraine traded allegations of attacks on civilians on ‌New Year's Day ‌despite talks overseen by US President Donald ‌Trump ⁠that are ‌aimed at bringing an end to the nearly four-year-old war.

Kyiv has been intensifying strikes against Russian energy infrastructure in recent months, aiming to cut off Moscow's sources of financing for its military campaign in Ukraine.

Elsewhere, the Trump administration's efforts to increase pressure on Venezuelan President Nicolas Maduro continued with Wednesday's imposition of sanctions on four companies and associated oil ⁠tankers that it said were operating in Venezuela’s oil sector.

Traders widely expect OPEC+ to continue its pause on output increases in the first quarter, said Sparta Commodities analyst June Goh.

"2026 will be an important year on assessing OPEC+ decisions for balancing supply," ⁠she said, adding that China would continue to build crude stockpiles in the first half, providing a floor for oil prices.

2025 LOSSES

The Brent and WTI benchmarks recorded annual losses of nearly 20% in 2025, the steepest since 2020, as concerns about oversupply and tariffs outweighed geopolitical risks. It was the third straight year of losses for Brent, the longest such streak on record.

"As of now, we are expecting a fairly boring year for (Brent) oil prices, range-bound around $60-65 a barrel," said DBS energy analyst Suvro Sarkar.

Phillip Nova analyst Priyanka Sachdeva said ‌the muted price movement reflected a struggle between short-term geopolitical risks and longer-term market fundamentals that point towards oversupply.