While international trade continued to flow in May and global air cargo volumes rose +6% year-on-year, market sentiment and concerns over what comes next saw airfreight spot rates decline for the first time in a year, according to Xeneta’s latest market analysis.
Midway through the month, the global air cargo market appeared to have dodged a perfect storm as the US-China 90-day tariff truce began on 14 May after the escalating retaliatory tariffs since April. The US administration lowered its additional tariffs on China from 145% to 30%, while China responded by decreasing its tariffs on the US to 10%.
