Global air cargo volumes rose by 4% year-on-year in April, but upcoming changes to U.S. tariffs on low-value shipments from China could severely disrupt e-commerce, raising concerns about the air cargo market’s future. The new 145% tariffs will likely reduce demand, especially since 50% of China-U.S. shipments are e-commerce-related. Experts predict potential flight cancellations and shifts in capacity. While recent air cargo rates increased slightly, the overall outlook remains uncertain, emphasizing the impact of these tariffs on the broader macroeconomic landscape.