Tariffs:
— The Trump Administration has talked about rolling out industry-specific tariffs to complement the existing country-by-country measures. Most recently, on August 1^st he implemented a 50% tariff on copper imports, unless otherwise stated. As per an Executive Order, this refers to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01am EDT on August 1^st, 2025, per an Executive Order.

— An Executive Order has put new country-specific reciprocal tariffs into effect. As reported by Freightwaves, the U.S. and Mexico have agreed to a 90-day extension to allow trade discussions to continue. The U.S. and China reached a similar deal, moving the expiration of their existing agreement from August 12^th, to 12:01am EST on November 10^th.

Air Cargo: Air Canada flight attendants recently went on strike late last week which impacted operations on Saturday, with the expectation that some flights would restart on Sunday, as the Canadian Industrial Relations Board declared the ongoing strike activity as illegal and ordered the union to direct their employees to return to work. However, the union refused to do so, thus pushing back the restart timeline to Monday evening, according to Freightwaves reporting and from a public statement from Air Canada. As of Monday evening, a mediated settlement was reached between Air Canada and the flight attendant union.

In other air cargo news, global air cargo volumes were up in July, seeing a 5% year-over-year increase per data from Xeneta.