Global Trade Frictions Surge in April: CCPIT Reports Sharp Rise in Tariff Measures and China-Related Tensions

On June 27, the China Council for the Promotion of International Trade (CCPIT) released its latest data showing that the Global Trade Friction Index rose to 131 in April, indicating a continued escalation in global trade tensions. The total monetary value involved in global trade friction measures surged by 37.6% year-on-year and increased by 16% from the previous month.

According to CCPIT spokesperson Wang Linjie, the sharp rise in April was primarily driven by the United States' imposition of so-called "reciprocal tariffs," which the U.S. government claimed were in response to trade deficits and non-tariff barriers. Several new restrictive measures introduced during the month also contributed to the index's upward trend.

Specifically, the index measuring global import and export tariff measures increased by 89 points year-on-year, while the index for China-related tariff measures surged by 131 points. The United States saw its overall Global Trade Friction Index jump by 65 points compared to the same period last year. Its index for import and export tariff measures climbed by 199 points, and the index specific to China-related tariff actions soared by 200 points.

Among the 20 monitored countries and regions, the United States, Japan, and India recorded the highest Global Trade Friction Index levels in April. The U.S. also reported the highest value of trade friction measures for the 10th consecutive month.

From a sectoral perspective, trade friction measures were most concentrated in electronics, transportation equipment, light industry, chemicals, machinery, pharmaceuticals, non-ferrous metals, and agriculture. The electronics sector topped the list with the highest trade friction index.

As for China-specific trade frictions, 19 countries and regions registered a combined China-related Trade Friction Index of 153, remaining at an elevated level. The United States once again recorded the highest China-related index. The value of China-related trade friction measures from these 19 countries rose by 6.9% year-on-year in April. High friction levels were observed in sectors including electronics, light industry, machinery, transportation equipment, and textiles.