As per the latest statistics from TAC Index, “Global airfreight rates declined 0.6 per cent last week and are down around 5.3 per cent compared with previous year. TAC report stated that the modest decline came despite the removal of capacity from the transpacific over recent weeks. “The decline seems relatively modest given the significant switching of freighter capacity away from transpacific routes in recent months, only partly reversed following the 90-day tariff deal between the US and China, which has been making some players more bearish about the outlook globally,” TAC said.