Trump declares TikTok agreement still ‘on the table’
(MENAFN) US President Donald Trump remains hopeful about reaching a deal for the sale of TikTok's US operations to American investors, despite the ongoing escalation in tariffs on Chinese imports. TikTok, owned by Chinese tech giant ByteDance, has come under scrutiny in the US due to national security concerns. In an interview on Wednesday, Trump confirmed that the agreement is "very much on the table."
The US recently imposed the highest tariffs yet on Chinese imports, marking an intensification in the trade dispute. Although Trump announced a 90-day pause on reciprocal tariffs for 185 countries, reducing them to 10%, tariffs on Chinese goods remain high at 125%. In retaliation, China has raised tariffs on US goods to 84% and blacklisted 11 American companies.
Trump acknowledged that China might be hesitant to proceed with the TikTok deal due to the tariff situation but hinted that a reduction in tariffs could speed up the process, suggesting that China would approve the deal "in 15 minutes" if such concessions were made. The proposed deal would involve restructuring TikTok’s US operations into a company largely owned by US investors.
Last week, Trump signed an executive order granting TikTok a 75-day extension to find a US-based buyer, delaying the potential ban initially set for April 5. This marks the second extension, with the first granted when Trump took office. Democratic Senators have criticized the delay, arguing that Trump lacks the legal authority to extend the deadline. Meanwhile, China has stated that any agreement must comply with its laws and protect its business interests.
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