FedEx Corp. expects a $1 billion hit from trade volatility this year, underscoring the impact of President Donald Trump’s tariffs and the loss of a key exemption for low-value goods.Most of that reduction to adjusted operating profit stems from lower shipments from China to the US — a highly profitable shipping lane that’s been hit hard by tariffs. About$300 million is due to the higher cost of clearing goods through customs, according to FedEx Chief Financial Officer John Dietrich.The costly trade environ ...