China's top trade promotion body says the United States is still the biggest driver of global friction. A new survey also shows many Chinese exporters are adjusting their strategies in response. Cao Chufeng reports. 

On Monday, the China Council for the Promotion of International Trade, or CCPIT, released its Global Friction Index for February. The overall index stood at 106 for the month, indicating a high level of global trade tension. The CCPIT also says, the US remains the biggest wildcard when it comes to global trade friction. 

ZHAO PING Spokesperson, China Council for the Promotion of International Trade "The US has implemented the largest amount of friction-related trade measures, ranking first for eight consecutive months in terms of value. It has also issued the highest number of unilateral measures, such as tariffs, controls, and sanctions, ranking first for two consecutive months; and its China-related friction index has consistently remained at the top."

This month, the U.S. started to impose so-called reciprocal tariffs on China. And according to a survey conducted by the CCPIT of over 1000 Chinese exporters, the tariff policies have pushed most to look for alternative markets. 

ZHAO PING Spokesperson, China Council for the Promotion of International Trade "The survey shows that nearly 50% of the companies said they would reduce their business with the United States, while 75.3% of the companies plan to expand into emerging markets to make up for the decline in exports to the U.S."

The CCPIT says the majority of the companies stated that constant changes in tariff policies created uncertainties for them. However, they believe there are always more solutions than difficulties. With the support of the government's package of policies to stabilize foreign trade, many Chinese enterprises are opening up new markets, expanding domestic sales, and strengthening supply chain resilience. 

CAO CHUFENG Beijing "CCPIT itself is also trying to help Chinese exporters. This includes further simplifying the process for handling and issuing commercial certifications, providing companies with stronger legal services, and creating more platforms for companies to expand into foreign markets. Cao Chufeng, CGTN, Beijing."

Source: CGTN