White House trade and manufacturing adviser Peter Navarro said on Monday that any investment restrictions proposed by the Trump administration would target China and not other countries.

In an interview on CNBC, Navarro said the U.S. Treasury Department would report to President Donald Trump on Friday on the issue of China investment restrictions "to defend our technology and intellectual property so that we can prosper in the future."

"All we're doing here with the president's trade policy is trying to defend our technology when it may be threatened. So this whole idea that there's going to be investment restrictions to the world, please, discount that," Navarro said.