Global freight handling continued to grow in May. A 4% rise in airfreight made for a 26th month of expansion, though a 6% increase in capacity may put pressure on margins later in the year if demand growth doesn’t accelerate. Seafreight did better, with a 5% increase, for a third straight month after eight of the ten regions tracked by Panjiva saw an improvement. Both modes will face challenges from the emerging tariff battle centered on the U.S. (whose seaports only saw a 1% expansion in handling May). Initially seafreight will pay the price as tariffs so far have focused on agriculture...