‘His policy will refrain growth of economies everywhere in world,’ says Vicente Fox
Mexico’s former President Vicente Fox has accused U.S. President Donald Trump of "isolating" the U.S. from global economy with bilateral trade agreements.
Speaking to CNBC, Fox said the protectionist policies of Trump restrict the U.S. economy’s capacity for future growth, referring to his America First policy.
Under the Trump administration, the U.S. withdrew from multilateral free trade agreements, including Trans-Pacific Partnership (TPP), trade agreements with Mexico and Canada (NAFTA), and involved in bilateral trade deals, while imposing a range of tariffs on trade partners, which caused a trade war with China and tensions with Mexico and European Union.
"I'm on the side of free trading, I'm on the side of market economies," Fox said.
"He’s [Trump] building walls, he’s isolating the U.S. from the global game of the economy, and this will refrain the growth of economies everywhere in the world," he added.
"Fortunately, the migration trend with Mexico reversed totally so many more Mexicans are coming back into Mexico because of NAFTA, because we’re building the opportunities, because we have full employment today in our economy," he said.
Mexico has also taken "strong steps" to limit migration from Central America, Fox stressed.
Mexico became a stamping ground for the Central American migrants seeking U.S. asylum.
In June, Mexico and the U.S. administration reached a deal following a tariff threat which obligates the country to reduce the immigration flow.
