China tariff reduction possible in TikTok sale negotiations: Trump

Mar 27

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Karah Rucker Anchor/Reporter

By Karah Rucker (Anchor/Reporter), Bast Bramhall (Video Editor)

President Donald Trump indicated that he might lower tariffs on China to help facilitate the sale of TikTok’s U.S. operations by ByteDance. He acknowledged TikTok’s significance, but emphasized the importance of tariffs.
Trump acknowledged that China will likely play a role in the approval process. He suggested he may extend the deal’s deadline beyond April 5 if necessary.
Vice President JD Vance expressed confidence that the U.S. and ByteDance will reach an agreement that addresses national security concerns while preserving the app.

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President Donald Trump said he may reduce tariffs on China to help facilitate a deal leading to ByteDance selling TikTok’s U.S. operations.

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“Maybe I’ll give them a little reduction in tariffs or something to get it done,” Trump said Wednesday, March 26. “TikTok is big, but every point in tariffs is worth more than TikTok.”

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China’s role in TikTok’s sale

Trump said during a press conference at the Oval Office that China will likely have to approve a TikTok-related divestiture.

A national security law requires ByteDance to divest TikTok’s U.S. operations or face an effective ban in the country. However, Trump signed an executive order in January that postponed the deadline for a deal to April 5.

Trump previously wanted the U.S. to maintain a 50% ownership stake in TikTok through a joint venture.

Potential extension of April 5 deadline

Trump mentioned a possible extension for the TikTok deadline again, if necessary.

“We’re going to have a form of a deal, but if it’s not finished, it’s not a big deal,” Trump said. “We’ll just extend it.”

China’s wealthiest man owns ByteDance

Zhang Yiming, the founder of ByteDance, is now the richest person in China, with his wealth valued at $57.5 billion, according to a Bloomberg report.

On several occasions, ByteDance has issued statements saying it is uninterested in a sale. Even with a potential extension past April 5, the long-term future of the social media app remains unclear.

Tags: ByteDance, National Security, Social Media, TikTok

[Karah Rucker]

PRESIDENT TRUMP SAYS HE MAY REDUCE CHINA TARIFFS TO HELP FINALIZE A DEAL INVOLVING TIKTOK –

WITH THE SOCIAL MEDIA APP FACING A BAN IN THE COMING DAYS.

DURING A PRESS CONFERENCE WEDNESDAY –

TRUMP SAID CHINA WILL HAVE TO PLAY A ROLE IN APPROVING ANY SALE OF TIKTOK’S U.S. OPERATIONS.

HE ALSO LEFT OPEN THE POSSIBILITY OF EXTENDING THE DEADLINE BEYOND APRIL 5TH – IF A DEAL ISN’T FINALIZED BY THEN.

We’re going to have a form of a deal, but if it’s not finished, it’s not a big deal.We’ll just extend it. I have the right to extend a deal if I want.”

TRUMP SAYS HIS ADMINISTRATION IS WORKING WITH FOUR DIFFERENT GROUPS – INTERESTED IN PURCHASING TIKTOK.

THE PRESIDENT SIGNED AN EXECUTIVE ORDER EARLIER THIS YEAR EXTENDING THE DEADLINE FOR TIKTOK’S CHINESE OWNER BYTEDANCE TO DIVEST –

AFTER THE PLATFORM WENT DARK FOR 19 HOURS IN JANUARY BEFORE TRUMP’S ORDER TO REVIVE THE APP IN THE U.S.

TRUMP WANTS THE U.S. TO MAINTAIN A 50% OWNERSHIP STAKE IN TIKTOK THROUGH A JOINT VENTURE.

HE EMPHASIZED THAT TIKTOK IS A SIGNIFICANT PLATFORM, BUT THAT TRADE TARIFFS REMAIN A HIGHER PRIORITY.

“China is going to have to play a role in that approval maybe. And i think they’ll do that.

yle=”font-weight: 400;”>“Maybe I’ll give them a little reduction in tariffs or something to get it done…TikTok is big, but every point in tariffs is worth more than TikTok.”

VICE PRESIDENT JD VANCE ALSO TOLD NBC NEWS EARLIER THIS MONTH HE WAS CONFIDENT THE U.S. WOULD BE ABLE TO STRIKE A DEAL – THAT SATISFIES NATIONAL SECURITY CONCERNS – AND SAVES TIKTOK.

MEANWHILE, WE LEARNED THIS WEEK THE FOUNDER OF BYTEDANCE, ZHANG YIMING, IS NOW CHINA’S RICHEST PERSON, WITH HIS WEALTH ESTIMATED AT 57-POINT-5 BILLION DOLLARS.

ON SEVERAL OCCASIONS – BYTEDANCE HAS ISSUED STATEMENTS SAYING IT IS UNINTERESTED IN A SALE –

SO THE FUTURE OF TIKTOK – EVEN WITH A POTENTIAL EXTENSION PAST APRIL 5TH – STILL REMAINS UNCLEAR IN THE LONGTERM.

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