Global trade frictions remained at a high level in October, the China Council for the Promotion of International Trade (CCPIT) said on Monday.
Data from the council show that the global economic and trade friction index stood at 104 in October. The total value of global trade friction measures declined by 7.3 percent year on year and 1.2 percent month on month, but remained at a high level.
In breakdown, the United States and India ranked first and second in the global trade friction index, with the value involved in the U.S. global trade friction measures holding the top position for the 16th consecutive month.
"As for sub-indexes for industries, among the 13 major sectors monitored, trade friction measures primarily target electronics, pharmaceuticals, mechanical equipment and light industry, with the electronics sector registering the highest trade friction index," said Wang Wenshuai, a spokeswoman for the CCPIT.
The global economic and trade measures index 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.
Global trade friction index remains high in Oct
