He highlighted that trade globalization along with weaponization has caused job losses and impacted quality of life in many countries. 

About Trade Weaponization

• It refers to the use of trade as a tool of foreign policy and occurs when a country uses its trade leverage over another nation coercing it to take actions for a specific outcome. 
• It aims at fulfilling national security objectives, geo-political gains, etc.  

Key Tools for Trade Weaponization

• Creating Impediments to Trade: Preventing customs clearance, obstacles concerning environment, biosecurity, intellectual property standards, etc. 
  •  E.g., In 2022, China blocked the imports of citrus, fish and other foods from Taiwan. 
• Sanctions and Embargo: Selectively cutting off imports and exports. 
  • E.g., USA’s Countering America's Adversaries Through Sanctions Act targeting Iran, Russia, and North Korea. 

Consequences of Trade Weaponization

• Protectionism: Involves tariff impositions on products imported from a country. E.g., China Shock 1.0 and 2.0 have prompted tariffs against Chinese products. 
• Trade War: Occurs when the countries involved impose retaliatory tariffs on each other. E.g., Witnessed between the USA and China since 2018. 
• Supply Chain Disruptions: Witnessed during the times of COVID-19; etc.