October Global Trade Friction Index: U.S. Tops Index for China-Related Trade Frictions

On December 27, Sun Xiao, spokesperson for the China Council for the Promotion of International Trade (CCPIT), released the October Global Trade Friction Index.

Global Overview

The overall global trade friction index stood at 102 in October, remaining at a high level despite year-over-year (YoY) and month-over-month (MoM) declines. The total monetary value of global trade friction measures dropped by 10.3% YoY and 7.4% MoM.

Country Rankings

Among the 20 monitored countries and regions, the United States, India, and Brazil ranked as the top three in terms of the Global Trade Friction Index, with the United States involving the highest monetary value of trade friction measures.

Industry Analysis

Among 13 major monitored industries, the electronics sector recorded the highest trade friction index. Companies in this field are advised to closely monitor trade policies in relevant countries and regions, proactively prepare, and respond swiftly to potential challenges.

Category Breakdown

The 20 monitored countries and regions collectively implemented:

- 18 import and export tariff measures,

- 28 trade remedy investigations,

- 150 notifications to the WTO regarding Technical Barriers to Trade (TBT) and Sanitary and Phytosanitary Measures (SPS),

- 15 import and export restrictions, and

- 214 other restrictive measures.

China-Related Trade Frictions

Regarding China-specific trade frictions, the index for 19 monitored countries and regions reached 118, remaining at a high level. The United States recorded the highest index for China-related trade frictions. The monetary value of trade friction measures involving China rose by 10.3% YoY but decreased by 7.8% MoM.

The electronics, machinery, transportation equipment, and light industry sectors were most impacted, with high trade friction indices in these areas.