President Trump’s top economic advisor, Larry Kudlow, disavows comments from White House trade advisor Peter Navarro.<\/b>
\nPresident Donald Trump’s top economic advisor, Larry Kudlow, on Tuesday disavowed comments from White House trade advisor Peter Navarro, who last week lambasted Wall Street influence in U. S.-China trade negotiations in comments that helped weaken the stock market.
\u00ab\u00a0He was not speaking for the president, nor was he speaking for the administration,\u00a0\u00bb Kudlow told CNBC on Tuesday. \u00ab\u00a0His remarks were way off base. They were not authorized by anybody. I actually think he did the president a great disservice.\u00a0\u00bb
\u00ab\u00a0I think Peter very badly misspoke,\u00a0\u00bb added Kudlow, who took over as director of the National Economic Council earlier this year. \u00ab\u00a0He was freelancing and he’s not representing the president or the administration.\u00a0\u00bb
The White House did not immediately respond to CNBC’s request for comment.
Navarro, known for his hawkish economic views toward China, has encouraged Trump’s tough talk with Beijing throughout an escalating trade war between the two countries. He doubled down on his aggressive tone last week, saying any agreement between the two countries will be on Trump’s terms and not subject to Wall Street intervention.
\u00ab\u00a0If there is a deal \u2014 if and when there is a deal \u2014 it will be on President Donald J. Trump’s terms. Not Wall Street terms,\u00a0\u00bb Navarro said Friday.
\u00ab\u00a0If Wall Street is involved and continues to insinuate itself into these negotiations, there will be a stench around any deal that’s consummated because it will have the imprimatur of Goldman Sachs and Wall Street,\u00a0\u00bb Navarro added.
Both economic powerhouses have imposed and threatened tariffs on billions of dollars’ worth of each other’s goods.
Gary Cohn, the former top national economic adviser, argued against imposing tariffs on China. Cohn was formerly the president and chief operating officer of Goldman Sachs.
WATCH: CNBC’s full interview with White House advisor Larry Kudlow<\/p>\n