UPS and FedEx freighters.
President Donald Trump urged the largest parcel service providers in the US to "seek and deny" packages from China containing the drug fentanyl.
In a series of tweets calling for US companies to seek an "alternative to China," Trump made explicit mention of FedEx, UPS, Amazon, and the United States Postal Service. China is the largest fentanyl source in the US. This is the result of a 201
"I order all forwarders, including FedEx, Amazon, UPS and the Post, to look for and refuse all deliveries of Fentanyl from China (or anywhere else!)," Said Trump. It is unclear whether Trump's statements with official guidelines are followed up by federal authorities.
UPS has issued a statement to CNBC "that it complies with all applicable government laws and regulations in the countries in which we do business, and we work closely with them." Regulators must look for banned substances. " FedEx stated in a statement that "Extensive security measures are already in place to prevent the use of our networks for illegal purposes, and we follow the laws and regulations wherever we do business and have a long history of working closely with government agencies "
" FedEx Supported the Passing of the STOP Act and Encouraged the Accelerated Implementation and Enforcement of Its Provisions to Protect the Health and Safety of the American People Fentanyl is a synthetic opioid that can be 100 times more potent than morphine of Homeland Security considered adding Fentanyl to B this year as a weapon of mass destruction. Only $ 5,000 can buy enough fentanyl in the Chinese market to provide half a million people with lethal doses. According to estimates by the Centers for Disease Control and Prevention, over 48,000 overdose deaths occurred in 2017, involving all opioids.
FedEx and UPS fell by about 3% after tweets, and Amazon shares fell by about 2% in the news. The broader market also fell and the Dow Jones Industrial Average lost almost 500 points or 1.8%.
This is not the first time airlines have been involved in a commercial dispute. FedEx is being examined by the Chinese government for maltreatment of parcels of products made by Huawei, a Chinese technology company that has labeled Trump a "national security threat." In June, trade was handled through the department's export regulations, as they were " Impossible burden "for the company.
The Trump government has given priority to combating Chinese exports of fentanyl and its precursor chemicals. Last year, Trump challenged China to impose the death penalty on fentanyl traders and said he had reached an agreement with President Xi Jinping that action against the drug was "very exciting." Earlier this year, China announced it would expand control of fentanyl-related substances by adding them to the additional list of controlled narcotics.
In Trump's tweets series, he also announced that he wants American companies to seek alternatives to their operations in China immediately and start making products in the US