President Donald Trump said he would consider lowering tariff rates imposed on China Safe support in Beijing For sale of American operations social video platform bytetance Ltd. Tictok to an American company.
“Each tariff point is worth more than Tictok,” Trump told reporters on Wednesday at an oval office. He suggested that “for China to take sale,” I might give them a reduction in the tariff. “
Trump spoke at an event to announce New 25% duty About the import of car, on the eve of the planned announcement next week on his program, which manages in his transparent reciprocal tariff program. The president has already imposed 20% of the levies on the goods imported from China.
Trump predicted that he would be able to secure at least the outline of a job for Tiktoc by next week, but said that if the agreement was not completed, he would move to extend the deadline.
“We’ll have a job shape, but if it’s not done, it’s not a big deal. We’ll just expand it,” Trump said. “I have the right to have an agreement and expand it if I want.”
According to the Law Last year, signed by President Joe Biden, Bytottance was obliged to sell Tiktok’s American operation until January 19th. Tiktok briefly paused his service earlier this year, but the exclusion was completely prevented when Trump signed an executive order for the delay of the law up to 90 days – until April 50 – and buy additional implementation.
‘Bad signal’
If China agreed with this agreement, she could send “bad signal” to other companies that hostile takeover are acceptable, said Josef Gregory Mahoney, a professor of international relations at normal university in Eastern China in Shanghai.
“Beijing will be disgusting to encourage Trump to break his way through the best Chinese international brand as a price to give up the tariff that he has imposed in the first place,” Mahoney said, adding that Beijing has Already criticized CK Hutchison Holdings Ltd. for the sale of their ports in Panama.
The Chinese Foreign Ministry did not immediately respond to the commentary request.
Trump earlier this month He said he was negotiating with four different potential bidders for Tictok, but did not publicly identify them.
Publicly well -known bidders include a group led by billionaire Frank McCourt and Reddit co -founder Alexis OhanianAnother one containing technological entrepreneur Jesse Tinsley and YouTube star Mrbeast, and Bid offer Author in San Francisco Ai.
Oracle Corp. It also weighs the proposal for the sale of US operations in the US that would provide security guarantees and acquire a small share in the new American entity, and potentially abandon the influential algorithm of the application in Chinese hands, according to people who are familiar with the issue.
Any work requires approval not only from Trump, but also from Tiktoc’s parent and Chinese government. Allowing to retain the algorithm would make it easier to win the company and the Chinese authorities, but he would risk if it were not in accordance with the confiscation law.
Trump, who once sought to ban Tictok himself, became a fan of a popular video sharing app, which he deserves to help his presidential campaign at 2024, stronger for younger voters.
This story is originally shown on Fortune.com
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