Cargo container ships are docked at the Port of Los Angeles in Los Angeles, California, USA, on April 2, 2025. Photo: VCG
Due to repeated adjustments in US tariff policies, global economic and trade frictions have intensified once again, the China Council for the Promotion of International Trade (CCPIT) said on Sunday.
In terms of the composite index, the Global Economic and Trade Friction Index for July stood at 110, remaining at a high level. The value involved in global economic and trade friction measures increased by 6.6 percent year-on-year and 27.6 percent month-on-month, the CCPIT noted.
From a country-specific perspective, among the 20 monitored countries (regions), the US, the European Union, and Brazil recorded the highest indices, with the US accounting for the highest value involved in global economic and trade friction measures for the 13th consecutive month.
Wang Guannan, spokesperson for the CCPIT, stated that from an industry perspective, among the 13 major sectors monitored, the focal points of economic and trade friction measures are concentrated in electronics, chemicals, transportation equipment, machinery, pharmaceuticals, light industry, and non-ferrous metals.
Global Times