Christine Lagarde criticises Trump policies in Canada speech
International Monetary Fund head Christine Lagarde has attacked anti-free-trade policies in a speech in Canada, in a move aimed at US presidential hopeful Donald Trump.
Lagarde did not explicitly mention Trump's name, but talked at length on the disadvantages of the trade policies espoused by the Republican candidate during his campaign.
He has repeatedly called for an end to trade deals with emerging economies and in favour of keeping jobs inside the United States. The policies are part of a wider trend among right-wing politicians throughout the West, who are increasingly favouring a rejection of globalisation.
"There is a growing risk of politicians seeking office by promising to ‘get tough’ with foreign trade partners through punitive tariffs or other restrictions on trade," Lagarde said.
"I am deeply concerned about this – not only because I was a minister of trade, but because trade has been at the heart of the IMF’s mandate for more than 70 years."
Lagarde and the IMF have been among the biggest backers for free trade throughout the EU and further afield via globalisation, and she believes that cooperation is still the best method.
"Structural change caused by globalisation and technological change has deeply affected some sectors and industries, while benefiting society as a whole," she said.