President Trump considers Lower Tariffs on China over TikTok
President Trump stated could lower the tariffs with China to settle the TikTok deal.
“Is going to have to play a role” is how Trump described China’s participation in approving the divestiture in the press conference held on Wednesday. “I may reduce charges in tariffs to get it resolved and done,” explained Trump, “But every point in tariff dollars is greater than TikTok in value.”
Trump signed an executive order in January, which put the deadline for a TikTok divestment deal past April 5th. The order also set new stipulations that allowed the national security law to permit ByteDance to either sell off TikTok’s U.S. operations or face a ban in the country. Earlier, it was thought that he intended to slash American stake ownership of TikTok, which stands at 50 percent.
Trump mentioned on Wednesday that there are plans to push back the TikTok deadline further. “We are expected to finish the deal, but in the present state, when the deal has not been finished, it’s not a big deal. It’s fair to say that we will push it,” Trump said. Earlier this month, Vice President Vance told NBC News how confident a deal regarding TikTok’s divesture would be finalized by the step deadline.
“There will almost certainly be a high-level agreement that it satisfies our national security concerns and be a distinct American TikTok enterprise,” Vance asserted.
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