The China Council for the Promotion of International Trade (CCPIT) released data on Wednesday showing that the global trade friction index continued to ease in June.
The comprehensive index stood at 92 in June, remaining at a medium-to-high level, Wang Guannan, a spokesperson for CCPIT, said at a Wednesday press briefing.
Wang noted that factors including the US extension of its reciprocal tariff suspension contributed to the easing trend. The total value of global trade friction measures in June fell by 14.7 percent year-on-year and 13.7 percent month-on-month.
By country, among the 20 monitored economies, India, the US and Brazil recorded the highest trade friction index levels, with the US ranking first in the value of trade measures for 12 consecutive months.
By sector, frictions were concentrated in electronics, transport equipment and machinery, with the electronics industry topping the index, the spokesperson said.
The sub-index showed that import and export tariff measures, influenced by US tariff policies, have become a common tool for economies to protect domestic industries.
In June, the 20 monitored economies rolled out 23 tariff measures, launched 47 trade remedy investigations, submitted 93 technical barriers to trade (TBT) and sanitary and phytosanitary (SPS) notifications to the WTO, and issued 12 import and export restrictions as well as 145 other restrictive measures. Among them, tariff measures ranked the highest on the index.
(Source: Global Times)