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White House adviser Navarro to Wall Street - Stay out of U.S.-China trade talks

Reuters  |  WASHINGTON 

By David Lawder

WASHINGTON (Reuters) - on Friday lashed out at efforts by current and former Wall Street executives to urge the and to end their trade dispute, calling them "unregistered foreign agents" who were trying to pressure into a deal.

"When these unpaid foreign agents engage in this kind of diplomacy, so-called diplomacy, all they do is weaken this and his negotiating position," Navarro said at the

"No good can come of this. If there is a deal, if and when there is a deal, it will be on Donald J. Trump's terms, not Wall Street terms," he added.

Trump is expected to meet with Chinese President in Buenos Aires, Argentina, at the end of November on the sidelines of a leaders summit to discuss a possible way out of their deepening trade war.

In recent days, Trump has said he believed that he and Xi can reach a deal.

China's top on Friday said the U.S.-trade talks can be resolved through talks and that any ongoing conflict would hurt both countries.

As the U.S.-dispute escalated, executives such as and Henry Paulson, the former and chairman, have met with officials on both sides to press for a resolution.

Paulson, in remarks in on Wednesday, warned of a new "economic Iron Curtain" being erected between the and China that will undo the benefits of globalisation.

"Unless these broader and deeper issues are addressed, we are in for a long winter in U.S.-China relations," Paulson told an economic forum.

Navarro said he believed such efforts by Wall Street were not needed by Trump and were counterproductive.

"I would again say, 'Wall Street, get out of those negotiations," Navarro said. "Bring your money to Dayton, and invest in The president of the does not need shuttle diplomacy," Navarro said.


Asked if he thought the Trump-Xi meeting would lead to a deal or the start of broader talks, Navarro said such negotiations were "not my lane," and would be led by U.S. Trade

But Navarro expressed scepticism whether a deal with China was even possible, adding that in the past, has never acknowledged U.S. concerns about lack of market access, intellectual property theft and forced and unfair state subsidies.

"The game that China has played -- and they played people in the like a violin -- is to do the tap dance of economic dialogue," Navarro said. "That's all they want to do. They want to get us to the bargaining table, sound reasonable and talk their way while they keep having their way with us."

(Reporting by David Lawder; editing by and Chizu Nomiyama)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, November 10 2018. 02:41 IST