THE race to secure goods from China before tariffs are imposed has taken off, with international cargo flights out of the Asian nation increasing to new records in the weeks since Donald Trump won the US presidential election on Nov 5.
There were 3,485 international cargo flights in or out of China last week, the most in data back to March 2023, just after China reopened its borders from several years of pandemic restrictions.
That was the third straight week with more than 3,400 flights, according to the data from the Ministry of Transport.
China is in the midst of an export boom, with the value of shipments this year likely to hit a record. That may be further boosted in the time before Trump takes office in late January next year, as companies in the US try to purchase as much as they can before he imposes new tariffs on goods from China, Mexico, Canada and possibly other nations.
In the year to October, the number of freight flights rose 73 per cent compared to the same period in 2023, according to official data, while there was an 8.3 per cent gain in the number of ships moving goods in and out of China. Truck and train transport also saw double-digit increases.
Air cargo prices out of China “have still not spiked and carriers report being busy but not overwhelmed even as December approaches”, according to a report from Judah Levine, head of research at Freightos Group.
“Capacity additions to these lanes and shippers who adjusted and planned ahead may prove to be enough to prevent extreme rate climbs and congestion through the end of the year.”
Separately, China said on Friday (Nov 29) that it will extend tariff exemptions for the import of some US products until Feb 28, 2025, the Customs Tariff Commission of the State Council.
The listed items, including rare earth metal ore, medical disinfectant, nickel-cadmium battery and others will remain exempt from additional tariffs imposed as countermeasures to the US Section 301 actions, the commission said. BLOOMBERG, REUTERS
