I guess we've dropped the whole "Global fair trade leads to a more free, peaceful and democratic world" argument that used to be so popular?
Sadly, yes. It took Russia invading Ukraine and threatening the E.U. for it to sink in. Now it's pretty much accepted that the experiment failed.
Global Free Trade is based on the Stag Hunt Principle - all players need to be aligned to cooperate in order to "hunt the stag".
If players decide they wish to undermine the principle of fair trade, then they should be isolated.
For example, if China has banned FB or Google from operating without Chinese government oversight, then we should do the same with TikTok and WeChat.