In an interview with CNBC, Kudrow said, "Just over the past week, we held meetings with the President and the head of the economy, which ruled out any possibility of intervention in the currency market."
Citing two unnamed sources, Politico reported that White House adviser and trade hardliner Navarro on Tuesday offered Trump the idea of devaluing the dollar as a way to put pressure on China in the ongoing trade war, but Politico said the president quickly rejected the proposals.
Trump had publicly complained about the strength of the dollar, saying it undermined the competitiveness of the United States, but Kudrow rejected the president's claim that the dollar would weaken. Instead, he said, other currencies should strengthen.
"I disagree with what you said about the president's desire for a weak dollar," Kudrow said. "The president's concern is that foreign countries may manipulate the devaluation of their currencies in an attempt to gain some short-term, temporary trade advantages."
Kudrow told reporters late Friday that the president wanted the dollar to remain stable.
"It's very unfair for other countries to manipulate their currencies," Trump complained on Twitter Monday. He blamed the U.S. Federal Reserve's interest rate policy for most of the dollar's strength and has been urging the Federal Reserve to cut interest rates at its two-day meeting next week.
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