It's a great question. I'll lead off and likely let Louis finish up.
Simply put, we have an obligation to deliver universal postal services at affordable rates, first under international law, where we're required to do it, and also under Canadian law, under the Canada Post Corporation Act. The model we have used for many years is that we deliver parcels along with letter mail. We use an integrated delivery method.
Letter mail volumes have been in steady decline for many years, but the parcel business has exploded. For instance, Canada Post revenue from parcels in 2015 was $1.6 billion. Without that revenue, Canada Post likely would not have remained profitable, as it has for over two decades, with the exception of one year.
What's essential is that we continue to be able to do that. As you're pointing out, we're in the middle of a review of Canada Post services and how the Canadian public is going to be best served by Canada Post in the future. Again, we think that what we need is the ability to modify Canada Post in response to what the Canadian public needs.
Something like the TPP, with the provisions that the express courier delivery services from south of the border have placed in it, could put serious constraints on our ability to be flexible and agile and to modify what Canada Post does for you. It's of serious concern to us. The TPP, without the annexes, prevents us from having that kind of flexibility to perhaps integrate some of the recommendations that will come out of the review of Canada Post.
I'll let Louis comment as well. Thank you.