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Kudlow: 'I think there will be a peaceful transfer of power' if Trump loses

White House economic adviser Larry KudlowLarry KudlowMORE on Friday predicted there will be a peaceful transfer of power if President TrumpDonald TrumpTrump announces new tranche of endorsements DeSantis, Pence tied in 2024 Republican poll Lawmakers demand changes after National Guard troops at Capitol sickened from tainted food MORE loses the election.

Kudlow's remarks came shortly after Democratic nominee Joe BidenJoe BidenSenate holds longest vote in history as Democrats scramble to save relief bill Ex-Trump appointee arrested in Capitol riot complains he won't be able to sleep in jail Biden helps broker Senate deal on unemployment benefits MORE pulled ahead of Trump in the vote count in Pennsylvania, a state that would give the former vice president the 270 electoral votes needed to win the White House.

"I think there will be a peaceful transfer of power," Kudlow said, adding that financial markets have been "remarkably calm" as the vote tabulations have played out.

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"This is the greatest democracy in the world, and we abide by the rule of law," Kudlow, who leads the National Economic Council, continued. "And so will this president. There’s some things to clean up here. And, again, it’s not my area of expertise. I’ll leave that discussion to the campaign."

"But yes, we will continue peacefully as we always do, and I might add, anybody from around the world, offshore watching this, they should know that," Kudlow said on CNBC.

Trump has sought to undermine the validity of the election results, and as his campaign insists the race is not over. But the president is trailing in Pennsylvania, Georgia, Arizona and Nevada, with his path to reelection narrowing by the hour.

Trump previously caused alarm among lawmakers and watchdog groups when he refused in September to commit to a peaceful transfer of power, though he later said he "absolutely" wanted a peaceful transfer.

Multiple White House aides have expressed uncertainty over how they will approach Trump or get him to reckon with the possibility he might lose the election. Trump is not expected to concede while his campaign pursues legal challenges in several battleground states where he is trailing Biden.