China Council for the Promotion of International Trade: The US India Global Economic and Trade Friction Index ranks among the top in October

Beijing, December 29th (Xinhua) - The China Council for the Promotion of International Trade released the Global Economic and Trade Friction Index for October on the 29th. Wang Wenshuai, spokesperson for the China Council for the Promotion of International Trade, stated that the global economic and trade friction index between the United States and India ranked among the top in October.

Wang Wenshuai pointed out at the regular press conference held on the same day that the global economic and trade friction index for October was 104, which was at a high level. The amount involved in global economic and trade friction measures decreased by 7.3% year-on-year and 1.2% month on month.

From the perspective of country indices, among the 20 countries (regions) within the monitoring scope, the United States and India rank among the top in the global economic and trade friction index. The United States has the largest amount of global economic and trade friction measures involved, ranking first for 16 consecutive months.

From the perspective of industry indices, among the 13 major industries within the monitoring scope, the conflict points of economic and trade friction measures are focused on the electronics, pharmaceuticals, mechanical equipment, and light industry industries, with the electronics industry ranking first in terms of economic and trade friction index.

From the perspective of sub indices, the import and export tariff measures index ranks first among the five sub indices. Wang Wenshuai stated that this indicates that major economies are increasingly using tariff tools in international trade activities.

In terms of economic and trade frictions related to China, the friction index of 19 countries (regions) is 102, which is at a high level. Among them, the United States has the highest China related economic and trade friction index, while industries such as lithium batteries, semiconductors, and telecommunications equipment have high China related economic and trade friction indices. The amount of economic and trade friction measures related to China in 19 countries (regions) during the month decreased by 33.2% year-on-year and 7% month on month.