Global air cargo volumes fell for a fifth time in six weeks, as weakening demand and the end of the US ‘de minimis’ import exemption for low-value Chinese goods impacted tonnages.
According to data from WorldACD, worldwide changeable weight declined by 1% during the 19th week of the year, when compared to the previous week. Europe and North America were the only two global regions to record growth, up 2% and 3% respectively, largely due to post-Easter recovery.
The expiry of the US ‘de minimis’ rule on May 2, 2025, which allowed imports of under $800 from China to enter duty-free, contributed to a decline in traffic on routes between the two countries. In addition, cargo tonnages from China and Hong Kong to the US fell 10% on the previous week, following a 14% decline that was recorded the week prior.
When looking at cargo volumes between China, Hong Kong and North America, which were recorded during the same week of the year prior, numbers were down 27%, representing a fourth week of double-digit percentage decline. By comparison, Asia-Pacific traffic to Europe fared considerably better, according to WorldACD.
On May 13, 2025, the US cut the de minimis tariff on small parcels, after the US and China agreed to cut import tariffs by 115% for 90 days, after trade talks were held in Geneva. New tariffs on small packages worth up to $800 have been cut from 120% to 54%, according to a White House statement.
WorldACD noted that these most recent tariff developments could spur short-term front-loading, particularly as the 90-day suspension of elevated US duties may incentivise air cargo shipments.
Average global airfreight rates continued to decline during week 19, falling 2% to $2.34 per kilogram.