- Getty Images
- Peter Navarro, President Donald Trump’s anti-China trade adviser, attacked Wall Street and Goldman Sachs on Friday.
- Navarro accused Wall Street of attempting to influence US-China trade negotiations and said the bankers are “unregistered foreign agents” working on behalf of the Chinese government.
- Chinese officials have reportedly reached out to some Wall Street executives in an attempt to understand Trump’s trade position.
- Trump and Chinese President Xi Jinping are scheduled to meet at the G20 summit in Argentina at the end of November.
Peter Navarro, President Donald Trump’s avowed anti-China trade adviser, leveled fierce attacks against Wall Street – specifically Goldman Sachs – for what he alleged was meddling in talks to resolve the US-China trade war.
Speaking at the Center for Strategic and International Studies in Washington on Friday, Navarro accused Wall Street of acting on behalf of the Chinese government and said “globalists” were trying to influence trade negotiations.
“Consider the shuttle diplomacy that is now going on by a self-appointed group of Wall Street bankers and hedge fund managers between the US and China,” Navarro said. “As part of a Chinese government influence operation, globalist billionaires are putting the full court press on the White House in advance of the G20 in Argentina. The mission of these unregistered foreign agents – that’s what they are, unregistered agents – is to pressure this president into some kind of a deal.”
Chinese officials have reportedly attempted to talk to some Wall Street titans about Trump’s trade attacks against the country – specifically Blackstone CEO Steve Schwarzman and JPMorgan CEO Jamie Dimon. While those attempts have yielded no results so far, Navarro views the Chinese discussions with Wall Street as shuttle diplomacy, which is conducted through a go-between.
“Wall Street, get out of those negotiations. Go to Dayton, Ohio – bring your Goldman Sachs money to Dayton, Ohio and invest in America,” Navarro said. “The president of the United States does not need shuttle diplomacy.”
Trump and Chinese President Xi Jinping are scheduled to meet at the G20 summit at the end of November. Trump has been raising expectations of a possible deal, though experts are skeptical.
Navarro warned that if Wall Street continues to inject itself into the US-China talks, any deal between the two countries would be tainted.
“If and when there is a deal, it will be on President Donald Trump’s terms – not Wall Street’s. If Wall Street is involved and continues to insinuate itself into these negotiation there will be a stench around any deal that is consummated,” he said.
The talks come amid a growing trade war between the two countries. Trump has already slapped tariffs on $250 billion worth of Chinese goods coming into the US and is threatening tariffs on all remaining imports. China responded with tariffs of their own on $110 billion worth of US goods.
Navarro praised Trump’s handling of the trade fight.
“Donald Trump has done an amazing job of addressing that issue, and he didn’t need the help of Wall Street. He didn’t need the help of Goldman Sachs, and he doesn’t need it now,” Navarro said. “When these unpaid foreign agents engage in this kind of diplomacy, so-called diplomacy, all they do is weaken this president and his negotiating position.”
A spokesperson for Goldman Sachs did not immediately return a request for comment.