Global Economic and Trade Friction Index Slightly Declines in November 2024

On January 17, 2025, the China Council for the Promotion of International Trade (CCPIT) released the Global Economic and Trade Friction Index for November 2024 at its monthly press briefing.

CCPIT spokesperson Yang Fan reported that the comprehensive index stood at 97 in November, indicating a mid-to-high level, with both year-on-year and month-on-month declines. The total value of global economic and trade friction measures dropped by 9.7% year-on-year and 6.3% month-on-month.

By Country: Among the 20 countries and regions monitored, Brazil, India, the United States, and Mexico ranked highest on the Global Economic and Trade Friction Index. The United States accounted for the highest value of economic and trade friction measures, maintaining the top position for five consecutive months.

By Industry: Of the 13 major industries monitored, the electronics sector ranked highest on the Global Economic and Trade Friction Index. Companies in this sector are advised to establish long-term mechanisms for early warning and response to effectively prevent and resolve related trade frictions.

Among the 20 countries and regions monitored:

- A total of 26 import and export tariff measures were issued.

- 31 trade remedy investigations were initiated.

- 96 notifications were submitted to the WTO concerning Technical Barriers to Trade (TBT) and Sanitary and Phytosanitary (SPS) measures.

- 10 import and export restrictions were introduced.

- 123 other restrictive measures were issued.

The index for "other restrictive measures" ranked highest among all sub-categories.

The China-related Economic and Trade Friction Index for 19 countries and regions stood at 109, indicating a high level but showing a 9-point decrease from the previous month. The United States recorded the highest China-related friction index. The total value of China-related friction measures decreased by 6.5% year-on-year and 13.1% month-on-month. Among industries, the electronics, machinery, and light industry sectors saw the highest levels of China-related economic and trade frictions.