TikTok Deal Halted as China Rejects Offer Over Tariffs

Post by: Pratik Kumar

Photo : AP

A plan to separate TikTok’s U.S. business into a new company has been put on hold. This happened after China said it would not approve the deal because of new tariffs announced by President Donald Trump. Two people familiar with the situation shared this.

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The deal was almost ready. By Wednesday, most of the details were worked out. If it had gone through, TikTok’s U.S. operations would have become an independent company. U.S. investors would have owned most of it, while ByteDance, TikTok’s parent company, would have kept less than 20% of the shares.

The plan had already been approved by ByteDance, investors, new investors, and the U.S. government. But because China disagreed with the deal, the process is now paused.

Both ByteDance and the White House did not respond when asked for comments. The Chinese Embassy in Washington D.C. also did not reply right away.

This delay is another challenge in the ongoing talks about TikTok’s future in the U.S., as issues between the U.S. and China continue to affect decisions about Chinese-owned companies in America.

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