Such arbitrary tariffs are exacting a heavy toll. According to the United Nations Conference on Trade and Development (UNCTAD), US growth is expected to slow to 1.8 percent in 2025 and 1.5 percent in 2026, down from an average of 2.5 percent between 2015 and 2019. In Europe, US tariffs on steel, aluminum and automobiles have squeezed supply chains and weakened competitiveness, prompting firms to delay investment, with the UNCTAD forecasting EU growth at just 1.3 percent in 2025.

　　Furthermore, Washington has wielded tariffs as a tool of geopolitical coercion, not least by threatening to impose punitive tariffs on countries that do not support the US plan to "obtain" Greenland.

　　The weaponization of US financial tools and rising unilateralism have destabilized global markets, severely constraining the strategic autonomy of developing states, Herman Tiu Laurel, president of the Asian Century Philippines Strategic Studies Institute, a Manila-based think tank, told Xinhua.

　　World leaders have voiced opposition to such unilateral actions. Italian Prime Minister Giorgia Meloni has said, "Imposing new sanctions today would be a mistake," while Malaysian Prime Minister Anwar Ibrahim has warned against global trade being weaponised against weaker countries.

　　In a world fracturing along economic faultlines, Xi offered a clear compass. "Countries cannot thrive without an international environment of open cooperation, and no country can afford to retreat into self-imposed isolation," he reminded global audiences.

　　Addressing the 2025 Virtual BRICS Summit, he reinforced the point: "Economic globalization is an irresistible trend of history."