Trump: 'If they reduce tariffs, China will sell TikTok in 15 minutes'

Mr. Trump signed an executive order to extend TikTok's license to operate in the US on January 20. Photo: Reuters .

US President Donald Trump has just signed an executive order allowing TikTok to continue operating in the US for another 75 days. The goal is to extend the negotiation time to complete the deal to transfer ownership of this popular social network to American investors.

The order comes as the White House believed it was close to a deal that would have spun off TikTok’s operations into a new US-based company, majority-owned and run by US investors, with Chinese parent ByteDance retaining a minority stake. But a sudden development has thrown the entire process into reverse.

"We almost had a deal with TikTok - not quite a deal but very close - and then China changed their mind because of the tariffs," Trump told reporters on Air Force One returning to Washington DC on April 6.

"If I cut the tariffs a little bit, they would pass it in 15 minutes, which shows the power of tariffs," Bloomberg quoted the US president as saying.

The Chinese government abruptly halted consideration of the deal on April 3, just hours after President Trump announced a series of new tariffs that would apply globally, including to China, an insider told the AP .

Shortly thereafter, a ByteDance representative called the White House to inform Beijing that it would not approve any TikTok-related deal until formal negotiations on trade and tariffs took place.

The abrupt withdrawal from China has put TikTok in a difficult position. The company has been unable to signal clearly what the deal entails, fearing that premature disclosure would jeopardize sensitive negotiations with Chinese regulators, according to AP .

The draft TikTok ownership transfer agreement has been in the works for months, with Vice President JD Vance and his team directly involved in negotiations with potential investors and ByteDance officials. The plan includes a 120-day closing and financing period. The draft has received approval from existing investors, new investors, ByteDance, and the Trump administration.

Before the tariffs were announced, the US believed China would agree to the deal. President Trump remained optimistic, saying the extra 75 days would be enough to “save TikTok.”

A ByteDance spokesperson confirmed that the company is in talks with the US government about a “potential solution.” However, they also said that “no agreement has been signed.” “There are still many key issues to be resolved. Any agreement must comply with Chinese law,” the spokesperson said.

TikTok currently has two headquarters in Singapore and Los Angeles. The platform has always stated that it puts the safety of its users first. Meanwhile, the Chinese Foreign Ministry also affirmed that the Chinese government "has never and will never ask companies to collect or provide data, information or intelligence from other countries."

In January, the US Congress passed a law requiring TikTok to completely separate from its Chinese ownership by January 19 or face being banned in the US on national security grounds. The law received bipartisan support and was approved by the US Supreme Court with an absolute consensus. However, Mr. Trump has signed an executive order twice to delay this requirement.

Source: https://znews.vn/trung-quoc-bat-ngo-phanh-gap-thuong-vu-tiktok-vi-ong-trump-post1543959.html