Global air freight rates experienced slight declines in a volatile week, with the Baltic Air Freight Index down 2.7% as of February 10, though it remains up 1.8% year-over-year. Market players are monitoring the potential export impacts from China to the U.S. amid tariff changes. Outbound routes from Hong Kong and Shanghai saw decreases, while rates from other Asian countries were generally lower. In Europe, rates varied, with an increase to the Middle East but a decline to the U.S. Conversely, Chicago’s outbound routes rose significantly, influenced by higher rates to Europe and other regions.

Source: https://www.stattimes.com/air-cargo/air-cargo-rates-decline-on-tariff-worries-1354464