President Donald Trump is isolating the U.S. and jeopardizing global economic growth, former Mexican President Vicente Fox told CNBC Wednesday.

Trump's "America First" economic policy has seen a concerted effort to reduce the U.S. trade deficit by moving away from multilateral free trade agreements to bilateral trade deals, while imposing a range of new or increased tariffs on trade partners.

This has brought about a protracted trade war with China and heightened trade tensions with the European Union, Canada and Mexico.

Speaking to CNBC Wednesday, Fox accused Trump of "isolating that great nation into four walls" and said protectionist policies restrict the U.S. economy's capacity for future growth.

"I'm on the side of free trading, I'm on the side of market economies," Fox said.

"He's 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."

White House spokesman Judd Deere told CNBC that "free, fair, and reciprocal trade is essential to American and global prosperity, but many countries have pursued a strategy of unfair competition for decades that has created barriers for our great farmers, ranchers, manufacturers, and entrepreneurs."

"Since taking office, President Trump has used every available tool to level the playing field for American workers and reduce barriers to the export of our goods and services — a promise he made to all Americans and will continue to keep. With a booming economy, low unemployment, and rising wages, it's clear that the President's policy of fair and reciprocal trade along with lower taxes and deregulation are working," he added.