Air cargo tonnages from Asia Pacific, particularly China and Hong Kong to the U.S., experienced a significant decline ahead of upcoming de minimis rule changes. The latest WorldACD Market Data report noted a 3% worldwide drop in air cargo for week 18, with Asia Pacific seeing an 11% decrease. Average rates remained stable at $2.40 per kilo, but spot rates varied, with China-U.S. rates dropping to $3.85 per kilo. The changes in de minimis rules are already affecting the market, as shown by the stark contrast in tonnage declines to the U.S. compared to Europe.

Source: https://www.stattimes.com/air-cargo/labour-day-adds-to-tonnage-declines-from-asia-pacific-worldacd-1355243