The level of global trade friction eased in May compared to the previous month, yet still remained at a high level, according to data released by the China Council for the Promotion of International Trade (CCPIT) on Thursday.
The Global Economic and Trade Measures Index (GETMI), introduced by the CCPIT, stood at 105 in May, still remaining at a high level. Global economic and trade frictions eased due to a combination of factors including the U.S. suspension of some tariff measures, with the total value involved falling by 13 percent year on year and 37.8 percent month on month, said CCPIT spokeswoman Wang Linjie at a press conference in Beijing.
Among the 20 countries and regions monitored, the European Union, India and the United States ranked the top three in global trade friction index of the month, the data showed. The United States accounted for the largest share of global economic and trade friction measures and involved the largest amount of money, holding the top position for 11 consecutive months.
"Judged from indexes for industries, among the 13 major industries monitored, the economic and trade frictions focused on electronics, chemicals, machinery and equipment, with the electronics industry showing the highest level of friction," Wang said.
Global trade friction Index down 37.8 pct in May amid US suspension of some tariffs
