China rejects US offer to trade TikTok for tax breaks

(CLO) US President Donald Trump recently announced his willingness to reduce tariffs with China in exchange for Beijing's approval to sell TikTok, but China quickly rejected this proposal.

On March 27, the Chinese Foreign Ministry affirmed that it had not changed its stance on TikTok and also opposed the imposition of additional tariffs by the US. This means that Beijing is not prepared to make concessions to help finalize the sale of this popular video platform.

Illustration photo: Unsplash

TikTok, owned by the Chinese company ByteDance, is under significant pressure from the US government. According to a law passed in 2024, ByteDance must sell TikTok to a non-Chinese company by April 5th, or the app will be banned in the US.

The main reason the US wants to force TikTok to divest is the concern that China could exploit the platform to collect user data or manipulate American public opinion.

Given this situation, Trump indicated he was willing to "slightly reduce tariffs" in exchange for China's approval of the deal. However, Beijing flatly refused, making the sale of TikTok more difficult. Without China's consent, ByteDance is unlikely to be able to sell TikTok as required by the US.

Currently, several companies are interested in acquiring TikTok, including Microsoft, Oracle, and a group of investors led by real estate mogul Frank McCourt. Even YouTube sensation MrBeast is on the list of potential buyers. Additionally, AI company Perplexity has proposed integrating artificial intelligence search technology into TikTok to create a more powerful new platform.

With China refusing to compromise, Trump may have to find another way to achieve his goal. He has also suggested that he might extend the deadline for the deal, but without a suitable solution, TikTok could face a deadlock, affecting 170 million American users.

Hoai Phuong (according to AFP, Reuters, China Daily)

Source: https://www.congluan.vn/trung-quoc-tu-choi-de-nghi-doi-tiktok-lay-giam-thue-tu-my-post340324.html