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A top White House economic advisor on Tuesday publicly rebuked a fellow aide over firebrand speech attacking Wall Street's involvement the US-China trade war.
Top White House economic advisor Larry Kudlow said trade advisor Peter Navarro was "way off base" in his comments, and were not authorized.
In an address to a Washington think tank on Friday, Navarro, head of a White House trade council, said Wall Street figures were pressuring the White House to reach a resolution with Beijing.
Navarro, an anti-China firebrand, said President Donald Trump's bargaining position was being undermined by "unpaid foreign agents" and Wall Street "globalists," a term which frequently draws accusations of anti-Semitism.
And Navarro said a deal with China agreed under pressure from Wall Street would bear a "stench."
But Kudlow said Navarro's comments did not represent Trump's thinking.
"He was not speaking for the president, nor was he speaking for the administration," Kudlow told CNBC. "His remarks were way off base, they were not authorized by anybody."
He said Trump speaks to people on Wall Street, union leaders and others.
"I think Peter very badly misspoke. He was freelancing and he's not representing the president or the administration."
Trump and Chinese President Xi Jinping are due to discuss the US-China trade confrontation later this month during a Group of 20 summit in Argentina.
Trump to discuss trade war with Xi at G20 summit
Washington (AFP) Nov 13, 2018 -
US President Donald Trump and Chinese President Xi Jinping will discuss trade on the sidelines of a Group of 20 summit in Argentina this month, a senior US official said Tuesday.
Top White House economic aide Larry Kudlow said the high-level efforts continue to resolve the US-China trade war, and follow Trump's recent telephone call with Xi.
"Right now we're having communications at all levels of US and Chinese government," Kudlow told CNBC.
"We now know that we will in fact discuss trade at the G20 meeting in Argentina. We didn't know that before but that's a certainty."
Trump is due to arrive in Buenos Aires on November 29 for the G20 summit, which will give him the opportunity for face-to-face meetings to ease the trade tensions.
Major US corporations say they are raising prices and face higher costs due to the trade war, in which Washington has imposed steep import duties on more than $250 billion in Chinese goods. China hit back with tariffs on $110 billion in US goods.
Duty rates on a $200 billion in imports are due to rise to 25 percent from the current 10 percent, and Trump also is threatening to impose tariffs on another $267 billion of additional Chinese goods.
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