FedEx(US:FDX) 智通财经网·2025-11-20 06:48Core Insights - The CEO of FedEx, Raj Subramaniam, indicated that global trade and supply chain changes driven by technology and geopolitical risks may persist long-term [1] - A new balance in supply chain dynamics is forming, characterized by increased regional features, and the transformation of the industrial economy will take longer to complete [1] - The impact of former President Trump's tariff policies and the end of exemptions for low-value goods has disrupted the global parcel delivery industry, potentially constraining industry growth in the coming year [1] Company-Specific Insights - FedEx warned in September that it expects to lose $1 billion this year due to trade fluctuations, primarily from reduced cargo volume from China to the U.S., which has been heavily impacted by the trade war [1] - The company has observed an increase in cargo flow from China to Europe, Latin America, and other regions in Asia, prompting adjustments in capacity allocation, including the redeployment of its cargo fleet [1] - FedEx is adjusting its capacity more rapidly than the pace of manufacturing migration, allowing it to capture signals and respond effectively [1] Industry Insights - Peter Voser, Chairman of ABB Group, emphasized that trade disruptions are not merely a result of election cycles but reflect fundamental market changes and a deeper understanding of potential costs [1] - Companies across various industries are increasingly aware that the losses from supply chain disruptions far exceed the costs of maintaining product inventories [1]