- President Donald Trump indicated that he might lower tariffs on China to help facilitate the sale of TikTok’s U.S. operations by ByteDance. He acknowledged TikTok’s significance, but emphasized the importance of tariffs.
- Trump acknowledged that China will likely play a role in the approval process. He suggested he may extend the deal’s deadline beyond April 5 if necessary.
- Vice President JD Vance expressed confidence that the U.S. and ByteDance will reach an agreement that addresses national security concerns while preserving the app.
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President Donald Trump said he may reduce tariffs on China to help facilitate a deal leading to ByteDance selling TikTok’s U.S. operations.
“Maybe I’ll give them a little reduction in tariffs or something to get it done,” Trump said Wednesday, March 26. “TikTok is big, but every point in tariffs is worth more than TikTok.”
China’s role in TikTok’s sale
Trump said during a press conference at the Oval Office that China will likely have to approve a TikTok-related divestiture.
A national security law requires ByteDance to divest TikTok’s U.S. operations or face an effective ban in the country. However, Trump signed an executive order in January that postponed the deadline for a deal to April 5.
Trump previously wanted the U.S. to maintain a 50% ownership stake in TikTok through a joint venture.
Potential extension of April 5 deadline
Trump mentioned a possible extension for the TikTok deadline again, if necessary.
“We’re going to have a form of a deal, but if it’s not finished, it’s not a big deal,” Trump said. “We’ll just extend it.”
China’s wealthiest man owns ByteDance
Zhang Yiming, the founder of ByteDance, is now the richest person in China, with his wealth valued at $57.5 billion, according to a Bloomberg report.
On several occasions, ByteDance has issued statements saying it is uninterested in a sale. Even with a potential extension past April 5, the long-term future of the social media app remains unclear.
