Global trade frictions, or barriers to trade that hinder commerce, remained at a high level in June, according to data released by China's trade promotion body on Friday.
The global economic and trade measures index, presented by the China Council for the Promotion of International Trade (CCPIT), is a tool used for assessing and measuring the level of economic and trade frictions on a global scale. It serves as an indicator of the degree of trade barriers encountered by countries in their international trade endeavors.
The index looks into trade frictions in 20 countries and regions, including the United States, China, and Japan, and trade-measure usages such as import and export duties, trade remedies, and technical barriers.
The index reached 102 points in June, continuously at a high level. Monetary value associated with global trade friction measures dropped 68.8 percent year on year, and down by 65.1 percent from the previous month.
In terms of the sub-index for individual countries, India had the highest index among all the 20 countries under survey, followed by Brazil and Britain. The European Union ranked first in terms of monetary value involved in trade friction measures.
"Judged by the sub-indexes of industries, out of the 13 major industries under survey, trade friction measures mainly focused on mechanical equipment, chemical and light industries, with mechanical equipment topping all the others," said Wang Linjie, spokeswoman of the CCPIT, at a press conference in Beijing.
Wang reminded enterprises venturing abroad to be cautious of various compliance risks. As the mechanical equipment and electronics industries have high in friction indexes, companies in these sectors should prioritize risk prevention and management, focusing on the security and stability of their industrial supply chains.
Global trade frictions remain severe in June
