Trump Considers Tariff Reduction for China If TikTok Deal Is Approved
President Trump hinted at reducing tariffs on China contingent upon the approval of a TikTok deal. The app’s future is uncertain following bipartisan legislation mandating its sale by ByteDance due to security concerns. The Chinese government insists on adherence to U.S. regulations, while various potential buyers compete for TikTok amid pressing timelines.
President Donald Trump recently indicated that he might consider reducing tariffs on China, contingent upon the Chinese government approving a TikTok deal orchestrated by his administration. During a news conference at the White House, Trump remarked, “China is going to have to play a role in that, possibly in the form of an approval, maybe, and I think they’ll do that.” He previously implemented a memorandum advocating for “fair and reciprocal” trade tariffs across all major U.S. trading partners, including allies.
The future of TikTok in the United States remains uncertain, particularly after bipartisan legislation, signed by President Joe Biden, mandated that the app’s Chinese owner, ByteDance, either sell it to a non-Chinese buyer or face a national ban due to national security concerns. When questioned about Trump’s statements, the Chinese Foreign Ministry reiterated that TikTok has complied with U.S. laws and emphasized the need for a fair environment for international businesses. Furthermore, spokesperson Guo Jiakun stated, “trade wars and tariff battles produce no winners.”
TikTok did not respond to requests for comment regarding Trump’s statements. The company had previously challenged the potential ban, but the Supreme Court upheld it prior to Biden’s tenure. Following his inauguration, Trump signed an executive order requiring TikTok to either sell or divest by April 5. As of now, ByteDance has not publicly addressed the executive order or expressed an intention to sell.
Vice President JD Vance has been collaborating with national security adviser Michael Waltz in seeking a buyer for TikTok, expressing confidence in securing a deal by the upcoming deadline. Various entities have shown interest in acquiring TikTok, a platform valued at approximately $50 billion and boasting millions of users. Trump concluded by affirming, “We will find the one that’s best, best for the country. I’m worried about our country more than anything else with respect to TikTok.”
In summary, President Trump has suggested a potential reduction in tariffs on China if a TikTok deal is approved, emphasizing the need for China to take action. The future of TikTok remains precarious, influenced by national security legislation. The Chinese government maintains its position on compliance with U.S. laws, and various parties are pursuing an acquisition of TikTok, which holds significant value and user numbers. As deadlines approach, continued negotiations are expected over the platform’s future.
Original Source: www.nbcnews.com
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