[Global Economic and Trade Friction Index Dropped 37.8% MoM in May]
On the morning of July 31, the China Council for the Promotion of International Trade (CCPIT) held a press conference to release the Global Economic and Trade Friction Index for May. Data showed that the index dropped 37.8% MoM in May. From the perspective of the composite index, the Global Economic and Trade Friction Index for May was 105, fluctuating at highs. Affected by comprehensive factors such as the US's suspension of some tariff hike measures, global economic and trade friction measures have eased, with the amount involved decreasing by 13% YoY and 37.8% MoM.
From the perspective of national indices, among the 20 countries (regions) under monitoring, the EU, India, and the US ranked top three in the Global Economic and Trade Friction Index. The US had the highest amount involved in global economic and trade friction measures, ranking first for 11 consecutive months. The tariff measures, trade remedy measures, and import and export restriction measures issued by the US all ranked first, being the main driver behind the sustained highs of the Global Economic and Trade Friction Index.