Air freight rates are declining due to trade uncertainties and changing tariffs, with a 4% drop in the global air cargo spot rate to $2.44 per kilogram in April. Despite a 6% year-over-year increase in cargo volumes, rates from China to the U.S. saw a temporary rebound. Industry experts suggest that concerns over future trade stability may lead to further rate declines as airlines seek to secure volumes. Recent shifts in trade policies, including changes in tariffs, have complicated supply chains, prompting a modal shift for some goods typically moved by air freight.

Source: https://www.supplychaindive.com/news/may-xeneta-air-cargo-spot-rates-drop-tariffs/751133/