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Chinese Premier Li Qiang on Wednesday warned that the supply chains face fragmentation and cross-border investment is declining amid the US tariffs.

Addressing the 16th annual meeting of the "New Champions," also known as the Summer Davos, in northern China's Tianjin city, Li said that the international economic and trade landscape is "undergoing a profound change," according to Xinhua.

"Apart from the impact on global institutions and multiplying regional collaborations, the world is also experiencing volatile declines of cross-border investment and growing risks of fragmented production and supply chains," he said.

He added that Beijing is willing "to do whatever it takes to help tackle" the difficulties and challenges confronting the global economy.

Beijing is "confident in its ability to sustain robust economic growth," he said, adding the Global South was "rising rapidly."

Chinese Premier Li's comments come as the US imposed reciprocal tariffs on countries around the world, including China, roiling the global economy. The Trump administration, however, later suspended the tariffs for 90 days, until early July.

Washington is currently in talks with countries around the world about trade agreements.

*Writing by Islamuddin Sajid