Trump Considers Tariff Cuts for TikTok Deal – ByteDance

Post by: Pratik Kumar

Photo : AP

Former U.S. President Donald Trump said on Wednesday that he is ready to lower taxes on Chinese goods if it helps make a deal for TikTok. The Chinese company ByteDance owns TikTok, and it must sell the app to a non-Chinese company before April 5, or the U.S. government will ban it. The reason for this is that the U.S. thinks TikTok could be a risk to national security.

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Trump said China must agree to the deal because ByteDance is a Chinese company. He believes China will approve the sale if given the right offer. He also suggested that lowering taxes on Chinese goods could help. "With respect to TikTok, and China is going to have to play a role in that, possibly in the form of an approval, maybe, and I think they'll do that. Maybe I'll give them a little reduction in tariffs or something to get it done," Trump told reporters.

TikTok has not given any official response to Trump's words.

The biggest problem in selling TikTok is getting China's approval. TikTok is worth billions of dollars, and China does not want ByteDance to sell it easily. Trump has used taxes as a way to push China before, and his latest comment shows that he might do it again.

When Trump became President again on January 20, he said that if China does not approve a deal for TikTok, he might increase taxes on Chinese goods. This month, he raised those taxes from 10% to 20%.

The deadline for the sale is April 5, but Trump said he is willing to extend it if needed. The original deadline was January 19, but the U.S. Supreme Court ruled that ByteDance must sell TikTok, so the app was temporarily shut down. However, when Trump took office, he delayed the ban, and TikTok was back online.

Vice President JD Vance said that by April 5, a basic agreement should be ready. However, many details are still unknown. The U.S. government is playing a big role in this deal, more than usual. Normally, business deals are handled by private companies, but this time, the White House is helping in the process.

TikTok has around 170 million users in the U.S., which is almost half of the country's population. What happens next will depend on whether China agrees to the sale or if the U.S. follows through with the ban. The next few weeks will be important in deciding TikTok’s future.

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