Dhaka, July 9 -- Malaysian Prime Minister Anwar Ibrahim on Wednesday warned that global trade is being weaponized, as foreign ministers from the Association of Southeast Asian Nations (ASEAN) convened their annual meeting amid rising fears over impending U.S. trade tariffs.

Anwar's warning came as concerns mount across the 10-nation ASEAN bloc, many of whose economies are heavily reliant on exports. Six member states are among 14 countries facing steep new U.S. tariffs-ranging from 25% to 40%-scheduled to take effect on August 1 unless agreements are reached.

Opening the meeting, Anwar said the world is witnessing a time when "power unsettles principle" and economic tools once meant to foster growth are now being used "to pressure, isol...