DHL Express observes a decline in shipments heading to the US following the de minimis threshold change.

DHL Express experienced a drop in U.S.-bound volume in Q3 due to increased tariffs and the elimination of the de minimis exemption, which previously allowed low-value imports to enter duty-free. The company's Time Definite International service saw a significant 32% decline in billed weight year-over-year. Despite these challenges, DHL's earnings before interest and taxes grew by 1%, attributed to pricing adjustments and capacity management. The end of the exemption has affected business-to-consumer shipments more than business-to-business, but DHL sees opportunities to optimize capacity and improve operations amidst these changes.