In addition to suspending the UPS Service Guarantees, they have also implemented new peak surcharge rates.
Announcement from UPS.com…
To better manage the increased demand for air cargo capacity and the increased costs to maintain service during this period, a temporary peak surcharge will be implemented on UPS Worldwide Express®1, UPS Worldwide Express Freight®2 and UPS Worldwide Expedited® shipments3 originating from China Mainland and Hong Kong SAR to the Europe4, U.S. and America5 regions starting from April 5, 2020 until further notice. However, given that the COVID-19 situation continues to evolve, the peak surcharge rate is subject to change due to market conditions. For the latest information on peak surcharge, please visit ups.com/rates/cn