US-China trade war decreasing freight volume at Macau International Airport
MACAU International Airport (MIA) has seen freight volumes shrink slightly in 2019 due to US-China trade war, said the public company responsible for the airport
MACAU International Airport (MIA) has seen freight volumes shrink slightly in 2019 due to US-China trade war, said the public company responsible for the airport.
News came in a note from Macau International Airport Company Limited (CAM) in a note commenting on its participation in the Air Cargo Europe 2019 recently held in Munich, reported the Macau News Agency.
According to data from the Statistics and Census Bureau (DSEC), the amount of gross weight air cargo dropped 4.2 per cent year on year in the first four months of this year to 10,619 tonnes.
Most air cargo coming to Macau was sent through Taiwan, data indicated. Meanwhile the International Air Transport Association (IATA) indicated that Asia-Pacific airlines saw demand for air freight drop 7.4 per cent year on year in April, the sixth consecutive month of falling demand in the region.
'As the world's main manufacturing and assembly hub, the latest round of US tariffs is likely to negatively impact sentiment and activity in the region further,' IATA said.
US President Donald Trump recently threatened to raise tariffs on China again if President Xi Jinping doesn't meet with him at the upcoming Group of 20 summit in Japan on June 28 and 29. On May 10, the US imposed higher tariffs of up to 25 per cent on US$200 billion worth of Chinese goods.