White House trade adviser Peter Navarro said on Friday he does not believe the trade war in China will cause higher prices or a slower economy in the United States.

"We've had these tariffs in place for a very long time. China is bearing the entire burden by slashing their prices, by slashing their currency value and by the way they are hemorrhaging, hemorrhaging their supply chain out to the rest of the world and back here to America," he said in an interview with Fox Business Network. "And that's good for America."

"Negotiations will continue, as they have been. They will be done behind closed doors."