Leading industry analysts assessed that global airfreight capacity has fallen 35% year-over-year, and projects further…
China to Halve Tariffs on U.S. Imports on Valentine’s, Carriers Signal Capacity Cuts
Officials in China have scheduled to halve tariffs on $75 billion in U.S. imports on February 14 to make good on efforts to secure an interim trade deal. The “phase one” trade agreement mutually signed on January 15 contains a provision for both countries to consult the other in the event a natural disaster or unforeseeable event delays either party from complying with the obligations listed.
Some analysts project that there will be an increased demand for coal in the coming weeks, but with a number of air and sea carriers cutting capacity to stymie potential spread of disease, there is significant chance of shipment delay once China resumes normal operations.