Trump may lower tariffs for China to secure deal on TikTok
Donald Trump (photo: Getty Images)
US President Donald Trump has stated that he will consider the possibility of reducing tariffs on China. He intends to secure Beijing's support for the sale of ByteDance in order to finalize a deal on TikTok, reports Bloomberg.
"Every point in tariffs is worth more than TikTok," Trump told reporters in the Oval Office.
He suggested that in order to make China agree to the sale, he might consider lowering the tariffs.
The American leader predicts that he will be able to agree on at least a framework deal regarding TikTok by next week. However, he added that if no deal is reached, he will take measures to extend the deadline.
"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 have the deal and to extend it if I want," Trump said.
What preceded this
According to the law signed by US President Joe Biden last year, the Chinese parent company of the social network TikTok, ByteDance, had to find a buyer for the app outside of China by January 19.
Earlier this year, TikTok temporarily suspended operations, but a complete shutdown was avoided. Trump signed an order delaying the law’s enforcement by 90 days - until April 5 - to allow more time for a deal to be reached.
Earlier this month, Trump had already stated that he would likely extend the deadline for TikTok’s sale if an agreement was not reached by the original deadline. The American leader also emphasized that the US has a strong interest in the social network.
