EU de minimis removal chills e-commerce air as Asia-Europe volumes fall 14%

Summary

The EU ended its 150 euro duty-free threshold for low-value imports on 1 July, replacing it with a 3 euro per-item charge (plus a 2 euro fee from November). China's low-value and e-commerce exports fell 7% year on year in May, Hong Kong export tonnage dropped 12% in early July, and Asia-Europe air volumes were down 14% YoY as the parcel-driven trade that buoyed air freight unwinds.