JACKSON HOLE, Wyo.—Agustin Carstens, general manager of the Bank of International Settlements, on Aug. 25 delivered a scathing critique of rising protectionism, a not-so-subtle rebuke to U.S. President Donald Trump’s use of tariffs and trade talks to wring concessions from China, Mexico, and many other countries.
Reversing globalization “could increase prices, raise unemployment and crimp growth,” Carstens, the former head of Mexico’s central bank, told fellow former and current central bankers at the Kansas City Federal Reserve Bank’s annual economic symposium here.
