IATA has reported that global freight demand in February was up 6.8% but warned that this could change in the face of a trade war. IATA warned that the market “faces some potentially strong headwinds, including escalation of protectionist measures into a full-blown trade war”.

In a statement, IATA said: “The continued growth in air cargo demand is consistent with ongoing robust global trade flows. There are, however, signs that the best of the upturn for air freight has passed. Demand drivers for air cargo are moving away from the highly supportive levels seen last year. In recent months the Purchasing Managers Index (PMI) for manufacturing and export orders has softened in a number of key exporting nations including Germany, China and the US. And the seasonally adjusted demand for air cargo which rose at a double-digit annualized rate for much of 2017 is now trending at 3%.

“Demand for air cargo continues to be strong with 6.8% growth in February. The positive outlook for the rest of 2018, however, faces some potentially strong headwinds, including escalation of protectionist measures into a full-blown trade war. Prosperity grows when borders are open to people and to trade, and we are all held back when they are not,” said Alexandre de Juniac, IATA’s Director General and CEO.”

Trade wars ultimately harm all those involved, and truculent Presidents throwing toys around can lead to all sorts of harm to world trade. Ultimately a soothing voice to tackle such rages may well be the way forward, though it is unknown whether anyone can quell the pains felt by the current Oval Office incumbent.