China Council for the Promotion of International Trade (CCPIT): Global Trade Tension Index Remains High in December 2024

The China Council for the Promotion of International Trade (CCPIT) released data on December 28, 2024, showing that the Global Trade Tension Index stood at 106, remaining at a high level. While the total value of global trade friction measures decreased by 3.7% compared to the same period last year, it rose by 4.7% compared to the previous month.

According to Yang Fan, a spokesperson for CCPIT, among the 20 countries and regions monitored, India, Brazil, and the United States ranked the highest in terms of trade friction. The United States, in particular, had the highest value of trade friction measures, maintaining the top position for six consecutive months.

From an industry perspective, among the 13 major sectors under surveillance, the electronics industry had the highest global trade friction index. Companies within this sector face significant trade and legal risks, and it is recommended they strengthen their mechanisms for risk prevention and response.

Looking at specific trade measures, a total of 25 import and export tariff measures were introduced across the 20 monitored countries and regions. Additionally, 49 trade remedy investigations were initiated, and 77 notifications related to technical barriers to trade (TBT) and sanitary and phytosanitary (SPS) measures were submitted to the World Trade Organization (WTO). Furthermore, 21 import/export restrictions and 179 other restrictive measures were imposed. The trade remedy measures index was the highest among these.

This data reflects the continued volatility in global trade relations, highlighting the increasing complexity of international trade dynamics, with notable challenges in sectors like electronics, as well as ongoing trade disputes involving major economies such as the U.S., India, and Brazil.