Donald Trump’s economic policy is threatening the US economy and its reputation overseas, the Dean of Harvard Business School has warned.

Nitin Nohria said globalisation had benefited the US and warned against the attraction of “isolationism”.

Highlighting what he said was the “declining interest” of non-Americans wanting to study in the US, Mr Nohria said it was vital that immigrants continued to see the country as an attractive destination.

A recent survey found that 40 per cent of US universities saw a drop in foreign applicants this year.

Writing in the Financial Times, Mr Nohria, who grew up in India and moved to the US to study, said he “understood” why “President Donald Trump’s anti-immigration tone has found an audience” given competition for jobs.

But he said turning away from globalisation risks damaging the US economy.

“The debate over globalisation also raises questions about the responsibilities and costs of leadership — a role the US seems less inclined to play”, he said. “Effective global leadership requires generosity, inspiration, openness and a view that transcends a tit-for-tat, zero-sum mindset.

Donald Trump's international Presidential trips Show all 22 1 /22 Donald Trump's international Presidential trips Donald Trump's international Presidential trips French President Emmanuel Macron and US President Donald Trump AFP/Getty Images Donald Trump's international Presidential trips French President Emmanuel Macron and US President Donald Trump talk as they leave the Army Museum at Les Invalides in Paris AFP/Getty Images Donald Trump's international Presidential trips German Chancellor Angela Merkel and US President Donald Trump arrive for the group photo at the G7 Taormina summit on the island of Sicily in May 2017 Getty Images Donald Trump's international Presidential trips Mr Trump was pressed on the subject at the G7 summit in Italy Getty Donald Trump's international Presidential trips US President Donald Trump gives a speeech at the Warsaw Uprising Monument on Krasinski Square Getty Donald Trump's international Presidential trips US President Donald Trump and Britain's Prime Minister Theresa May during a ceremony at the NATO headquarters before the start of a summit in Brussels, Belgium Reuters Donald Trump's international Presidential trips Montenegro's Prime Minister Dusko Markovic is seen to the right of Donald Trump at a Nato summit in Brussels REUTERS Donald Trump's international Presidential trips Pope Francis meeting with US President Donald J. Trump EPA Donald Trump's international Presidential trips Pope Francis poses with US President Donald Trump and First Lady Melania Trump AFP/Getty Images Donald Trump's international Presidential trips US President Donald Trump arrives at Palazzo del Quirinale ahead of the meeting with Italian President Sergio Mattarella Ufficio Stampa Presidenza della via Getty Donald Trump's international Presidential trips US President Donald Trump is seen during a joint press conference with the Palestinian leader at the presidential palace in the West Bank city of Bethlehem AFP/Getty Images Donald Trump's international Presidential trips Palestinian president Mahmoud Abbas meets US President Donald Trump PPO via Getty Donald Trump's international Presidential trips Israeli Prime Minister Benjamin Netanyahu speaks with US President Donald Trump prior to the President's departure GPO via Getty Images Donald Trump's international Presidential trips US President Donald Trump and Israel's Prime Minister Benjamin Netanyahu shake hands after delivering a speech at the Israel Museum AFP/Getty Images Donald Trump's international Presidential trips US President Donald Trump and First Lady Melania Trump lay a wreath in the Hall of Remembrance as White House senior advisor Jared Kushner and Ivanka Trump watch on during a visit to the Yad Vashem Holocaust Memorial museum AFP/Getty Images Donald Trump's international Presidential trips US President Donald Trump visit to Yad Vashem Holocaust museum in Jerusalem accompanied by Prime Minister Benjamin Netanyahu GPO via Getty Images Donald Trump's international Presidential trips US President Donald Trump takes his seat before his speech to the Arab Islamic American Summit in Riyadh in Saudi Arabia Reuters Donald Trump's international Presidential trips Saudi Arabia's King Salman bin Abdulaziz al-Saud, US President Donald Trump and US First Lady Melania Trump look at a display of Saudi modern art at the Saudi Royal Court in Riyadh AFP/Getty Images Donald Trump's international Presidential trips US President Donald Trump and Saudi Arabia's King Salman bin Abdulaziz al-Saud take part in a signing ceremony at the Saudi Royal Court in Riyadh AFP/Getty Images Donald Trump's international Presidential trips King Salman presents Donald Trump with The Collar of Abdulaziz al-Saud Medal at the Royal Court Palace on 20 May AP Donald Trump's international Presidential trips US President Donald Trump is welcomed by Saudi King Salman bin Abdulaziz al-Saud upon arrival at King Khalid International Airport in Riyadh AFP/Getty Images Donald Trump's international Presidential trips U.S. President Donald Trump and first lady Melania Trump walk on the South Lawn prior to their first foreign trip Getty Images

“It requires moving from a self-centred to an other-oriented viewpoint, and prioritising creating value (increasing the size of the pie) rather than claiming value (battling for your share of it). We must also recognise how much deference we receive from other nations because of our past generous global leadership. Isolationism threatens to strip away the negotiating leverage we’ve earned from our leadership over many decades.”

Mr Nohria suggested the “ambitions and aspirations” linked to globalisation were part of “the American dream”.

“Part of our reputation for global leadership stems from our openness, which is at the heart of our ability to create innovative products and services,” he said.

“People abroad view America as a place with unprecedented socio-economic mobility, and this perception leads ambitious people to immigrate here. More than 50 per cent of Silicon Valley start-ups have an immigrant co-founder, and it’s essential that we continue to attract these imaginative people. America needs to maintain its status as the destination for the most ambitious immigrants.”

Mr Trump has been criticised for his strong rhetoric on immigration, including imposing a ban on immigration to the US from seven mainly-Muslim countries. He has also vowed to tackle illegal immigration from Mexico and deport millions of undocumented migrants currently living in the US.

The Republican leader has also spoken of stepping back from the US’s global commitment in order to pursue a strategy of “America first”.