The global economic and trade environment remains challenging, according to the latest Global Economic and Trade Friction Index the China Council for the Promotion of International Trade (CCPIT) released on Wednesday.
Economic headwinds remained strong, according to November's index, which stands at a high level of 101. The amount of money involved in global trade friction measures grew 7.2 percent year-on-year, but down 2 percent from the previous month.
CCPIT's Global Economic and Trade Friction Index tracks trade remedy measures, import and export control measures, tariff measures, and other restrictive measures of 20 major economies.
From the country or region-specific indices the European Union (EU), the United States and the Republic of Korea ranked as the top three contributors to global trade frictions.
"In that month, the EU initiated multiple anti-subsidy and anti-dumping investigations, replacing the United States, which had held the top position for 16 consecutive months, in terms of the total value of global trade friction measures," said Wang Wenshuai, a spokeswoman for the CCPIT, at a press conference.
Among the 13 major industries CCPIT monitors for the index, trade friction measures were concentrated in electronics, pharmaceutical, and chemical industries, with the electronics industry ranking highest in the index.
China's Global Trade Friction Index remains high in Nov
