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Kudlow says strong dollar is sign of confidence in the US

Berkeley Lovelace Jr.
"There's a lot of unrest around the world. Money is flowing into the U.S.A. That's terrific," White House economic advisor Larry Kudlow says.

White House economic advisor Larry Kudlow said Thursday the strong dollar is a "sign of confidence" in the United States.

"There's a lot of unrest around the world. Money is flowing into the U.S.A. That's terrific," Kudlow said in an interview with CNBC's " Squawk Box ." He added he "just wants a steady dollar" and isn't trying to "pilot" the U.S. currency.

"By the way, a strong dollar holds down commodity prices, gasoline prices are slipping, oil prices are slipping," Kudlow said.

The U.S. dollar was lower Thursday after news that a Chinese delegation will travel to the United States later this month for trade talks. The last round of talks was in early June when Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He in Beijing.

Kudlow confirmed Thursday that the U.S. and China will resume trade talks, but warned that President Donald Trump has a strong resolve to make sure the administration gets a good deal.

Trump commented on the dollar in a tweet Thursday.

Trump in March picked Kudlow to succeed Gary Cohn as director of his National Economic Council. Cohn, former No. 2 executive at Goldman Sachs, resigned from the White House role shortly after losing his fight to persuade the president not to impose import tariffs on steel and aluminum.

—Reuters contributed to this report.

This is a developing story. Please check back for updates.