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Investing.com -- Deutsche Post (OTC:DHLGY), also known as DHL Group, announced it will suspend high-value shipments to the United States starting Monday.
The decision comes as the company faces delays due to increased customs clearances.
The surge in formal customs clearances has resulted in multiday delays for goods valued more than $800, regardless of their origin.
This issue is linked to new U.S. Customs regulations that came into effect on April 5.
The new rules require goods valued over $800 to go through a more rigorous customs process. This is a significant decrease from the previous threshold of $2,500.
In response to these delays, DHL Group has decided to temporarily suspend business-to-consumer shipments to private individuals in the U.S. where the declared value exceeds $800.
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