Trump Discusses Near TikTok Deal Disrupted by Tariffs
President Trump announced that a deal on TikTok was close but altered due to tariffs imposed by the U.S. He emphasized the power of tariffs and the potential for swift agreement by China if tariffs were adjusted. An executive order will allow TikTok to continue operating for an additional 75 days while negotiations are ongoing. Trump’s administration seeks to resolve issues with TikTok’s parent company, ByteDance, following national security mandates from the Biden administration.
President Donald Trump recently disclosed that a deal concerning TikTok was nearing fruition but was disrupted due to adjustments in U.S. tariffs. During a conversation with reporters on Air Force One, he remarked that China would have ratified the agreement swiftly if tariffs had been modified. Trump indicated, “The report is that we had a deal, pretty much for TikTok, not a deal, but pretty close, and then China changed the deal because of tariffs.” He further stressed that cutting tariffs could expedite China’s approval of the deal within minutes, underscoring the significance of tariffs as an economic instrument.
In a related announcement last week, President Trump mentioned imposing a 34 percent tariff on China, prompting Beijing to reciprocate with similar tariffs on U.S. imports on April 10, as reported by CNN. Trump elaborated on his administration’s efforts to “save TikTok,” informing that an executive order would be signed to extend the platform’s operations for an additional 75 days while negotiations progressed further.
On his social media platform, Truth Social, Trump asserted his diligent efforts in negotiating a deal with China. He noted that while more work was required for necessary approvals, he would ensure TikTok remains operational. He expressed optimism about continuing discussions with China in a cooperative manner, recognizing their discontent with the tariffs in place, which he defended as vital for maintaining a just trade framework between the nations. Trump articulated the intention to prevent TikTok from ceasing operations, emphasizing the importance of tariffs for national security.
This announcement came shortly before a previously set ban on the app was to take effect, following Trump’s initial postponement of 75 days when he took office. In a broader context, former President Joe Biden established a law mandating TikTok’s parent company, ByteDance, based in China, to divest the app or face a ban due to national security issues. Following these developments, ByteDance stated that they have been in discussions with the U.S. government regarding potential solutions for TikTok but confirmed that no agreement had been finalized, citing pending matters subject to Chinese legal approval.
In summary, President Trump’s statements indicate that tariff negotiations with China may have hindered a near-complete TikTok deal. Trump reinforced his commitment to finding a resolution to allow TikTok to continue operating in the U.S. while defending tariffs as essential for trade fairness. As negotiations persist, the future of TikTok remains uncertain amid ongoing national security concerns.
Original Source: www.business-standard.com
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