White House trade adviser Peter Navarro reportedly on Friday blasted Wall Street "globalist billionaires" of trying to sabotage President Donald Trump's handling of trade relations with China.

"Consider the shuttle diplomacy that is now going on by a self-appointed group of Wall Street bankers and hedge fund managers between the U.S. and China," Navarro said in a speech at the Center for Strategic and International Studies, Politico reported.

"How do you have a deal with somebody if they don’t even acknowledge your concerns," Navarro said, according to the Wall Street Journal.

"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," Navarro said, Reuters reported.

"No good can come of this. 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," he added.

Trump is expected to meet with Chinese President Xi Jinping in Buenos Aires, Argentina, at the end of November on the sidelines of a G20 leaders summit to discuss a possible way out of their deepening trade war.

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