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US tariffs – Xeneta expects “seismic shock”
Graph: Xeneta
The global air cargo industry is facing major disruption, as the US imposes sweeping import tariffs from 9 April, including the elimination of de minimis exemptions for low-value shipments from China and Hong Kong from 2 May.
These shipments will be subject to 30% duty or a fixed fee, rising further in June. E-commerce – a key driver of air cargo demand – is expected to take a serious hit. Sino-US shipments account for around 6% of global volumes.
Xeneta’s Niall van de Wouw warns of a “seismic shock”, as shippers delay long-term commitments and trade tensions escalate. While March still showed moderate growth, market players are bracing for severe disruption, declining demand and greater rate volatility in the months ahead. The full impact will depend on retaliatory measures and the pace at which consumers and supply chains respond to rising costs. (ah)