Despite recent tariff hikes, the US president believes a deal is still possible, though China’s cooperation is uncertain.
President Trump remains optimistic about the potential sale of TikTok’s US operations to American investors, even with rising tariffs on Chinese goods.
TikTok, the popular video app owned by ByteDance, has been under US scrutiny due to security concerns. Trump told reporters on Wednesday that a deal is “very much on the table.”
The US has recently increased tariffs on Chinese imports, reaching a high point in the ongoing trade dispute. While Trump announced a temporary tariff reduction for most trading partners, Chinese goods remain subject to elevated tariffs. China has retaliated by raising tariffs on US imports and blacklisting American companies, further intensifying the trade conflict.
“Obviously, I would say right now China is not exactly thrilled about signing it,” Trump acknowledged. “We have a deal with some very good people, some very rich companies that would do a great job with it, but we’re going to have to wait and see what’s going to happen with China,” he stated, adding, “It’s on the table very much. I think China’s going to want to do it, actually.”
Trump suggested last week that China’s reluctance to approve the TikTok deal stemmed from the increased tariffs, implying that tariff reductions could facilitate the agreement, saying China would agree “in 15 minutes” if these concessions were made. The proposed deal would reportedly establish a new US-based company to manage TikTok’s US operations, with majority ownership and control held by American investors.
Trump recently extended TikTok’s deadline to find a US buyer by 75 days, postponing a potential ban. This marks the second delay, with the original deadline having been set for April 5. The first extension occurred when Trump took office in January.
Democratic Senators Mark Warner and Ed Markey have criticized the extension, questioning Trump’s legal authority to grant it. Markey’s attempt to move the deadline to October was blocked on Wednesday.
China has stated that any TikTok agreement must adhere to Chinese law and that it opposes actions that violate market principles or harm legitimate business interests.