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Axios

Business

Shipping costs head back to earth

Data: Freightos; Chart: Axios Visuals

One signal that America's demand for goods is cooling: The cost of shipping is receding quickly.

What's happening: The spot price to ship in a key corridor, from China and east Asia to the U.S. west coast, will now run you $7,600 per 40-foot container — down a whopping 62% from the brief high above $20,000 last September, according to Freightos, a booking and payments platform for international freight.

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