Peter Navarro, director of the National Trade Council. Andrew Harrer | Bloomberg | Getty Images

White House trade advisor Peter Navarro said Friday that any new trade agreement between the United States and China will be on President Donald Trump's terms, not Wall Street's. "If there is a deal — if and when there is a deal, it will be on President Donald J. Trump's terms. Not Wall Street terms," Navarro said from the Center for Strategic & International Studies in Washington, D.C. "If 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," he added.

Navarro, known for his hawkish economic views toward China, has encouraged President Trump's tough talk with Beijing throughout an escalating trade war between the two countries. Both economic powerhouses have imposed and threatened tariffs on billions of dollars' worth of each other's goods. Trump "has had the courage and wisdom to stand up to the globalist elites, to stand up to the countries of the world that are engaging in unfair trade practices," the trade advisor added. "Donald J.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." 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. Navarro also disparaged "unpaid foreign agents" and their "so-called diplomacy" in an apparent critique of those who have advised the president to settle with Beijing. "All they do is weaken this president and his negotiating position. No good can come of this," he said

U.S. President Donald Trump and China's President Xi Jinping leave a business leaders event at the Great Hall of the People in Beijing on November 9, 2017. Nicolas Asfouri | AFP | Getty Images