UPS · 10-Q · 2026Q2 · Full report
Geographic Market Commentary
UNITED PARCEL SERVICE INC · 2026-08-05 · Importance 29 · Surprise 32
International Package volume weakness was concentrated primarily in Europe, the Middle East and Africa (EMEA). EMEA domestic standard shipments and intra-regional export movements declined, while U.S.-destination export lanes were pressured by trade-policy changes, including de minimis exclusions. Higher demand on the Asia-to-U.S. trade lane, led by China outbound volume, partly offset the declines after UPS lapped the elimination of the de minimis in May 2026. UPS expanded its Incheon, South Korea hub, opened a logistics center in Taiwan and implemented initiatives to improve European ground transit times.