The decision by the U.S. to terminate a tax-free exemption for low-value goods from China has led to a drop in air cargo shipments from Asia to North America.
What Happened: The International Air Transport Association (IATA) reported a 10.7% decrease in air cargo demand from Asia to North America in May compared to the same period last year. According to a Reuters report, this decline is attributed to the U.S. decision to end the tax-free exemption for low-value packages from China in early May.
