Trump warned he could hit China with 100% tariffs if it intervened and blocked a deal to allow 50% U.S. ownership of TikTok.
TikTok restored US services after Donald Trump pledged to delay enforcement of a ban. Yet it’s not clear whether the app’s Chinese parent is able — or willing — to secure a US backer in time to avoid a permanent shutdown.
Chinese products will soon face a 10% tariff coming into the United States in a move that could ramp up conflict between the world’s two largest economies.
The TikTok ban won't be enforced until April, but there will be plenty of contentious negotiations between China, the U.S., and prospective buyers in the meantime.
A change to China’s export rules could give Beijing sign off on any deal that would force the internet giant ByteDance to give up TikTok.
For many of America’s 170 million TikTok users, US President Donald Trump’s move to delay a legal ban of the popular social media platform was cause for celebration. But in China, where TikTok’s parent company is based,
Kevin O’Leary says that he’s still interested in deal for TikTok, but that it’s no longer legally viable, even after Trump extended a ban on the platform.
Chinese authorities appear to be softening their stance on the fate of TikTok, possibly paving the way for Beijing-based ByteDance to begin talks with American investors, according to people familiar with the matter.
TikTok has publicly thanked Trump for the extension, calling it a "strong stand for the First Amendment and against arbitrary censorship" and said it plans to work with the President-elect to find a "long-term solution that keeps TikTok in the United States."
The founder of the app’s parent, Beijing-based ByteDance, met with Elon Musk last year.
While Trump gained praise from users for the reprieve, he faces long-time skeptics in his own Republican Party about what they see as the app’s ongoing national security threat.