Air cargo volumes experience an unexpected increase in July.

In July, global air cargo volumes increased by 5% year-on-year as businesses relied on airfreight to navigate U.S. tariffs, despite ongoing tariff negotiations creating market uncertainty. This surge deviated from typical seasonal trends, attributed to frontloading and expedited shipments. While cargo capacity grew by only 3%, the dynamic load factor improved to 58%. However, air cargo rates declined for the third consecutive month. The impending end of the de minimis exemption for small parcels, particularly affecting trade from China, adds to the complexity, leaving companies to adapt quickly amid tariff-related chaos.