President Donald Trump said Tiktok would never be dark in the United States for 75 days if his Chinese owners did not sell their U.S. assets.
During the weekend's deadline, time has run out, even though a preliminary deal for Tiktok's U.S. assets was reportedly concluded last week.
However, China ultimately rejected the deal in revenge on Trump's tariff war.
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“We almost made a deal for Tiktok – not a deal, but very close – and then China changed the deal.” Free Asian Radio Report.
“If I cut the tariffs, they will approve the deal within 15 minutes, which shows the power of the tariffs.”
Currently, tariff power has lifted global stocks off the cliff, with U.S. stocks eliminating $6.6 trillion in market value last week alone. Bearish sentiment also swallowed Asia See “bloody” in a region on Monday.
Meanwhile, China maintains a positive stance on Trump's tariffs Senior retaliatory taxation and Blanket curb at key mineral export Defensive and clean technology are required.
The same is true of its refusal to approve the Tiktok deal.
According to the Washington Post ReportThe Trump administration announced last week its proposed deal announced its proposed deal on Tiktok's U.S. assets. The report said Tiktok's Chinese parents, Wild, also agreed to the proposed deal and cited people close to the negotiations.
But Trump announced that the so-called “countdown” tax on Chinese goods would shut it down by 34%.
Bytedance eventually told the White House that Beijing would not “approve any agreement without first discussing President Donald Trump’s tariffs and trade policies.”
“The difference remains”
In a report on preliminary approval of the deal, Bidens also said on Sunday that there are still differences in the deal.
“We are still in conversation with the U.S. government, but there is no agreement yet, and there are still differences between the two sides on many key issues,” the company said in an official account on WeChat, a Chinese social media platform.
It said: “Under Chinese law, any agreement is subject to relevant review procedures.”
If the previously planned transaction has been completed, the share of BON will be given in the derivative product less than 20%. The new company is scheduled to own a majority stake and operate by U.S. investors.
The Chinese Embassy in Washington asked about the status of the Tiktok deal and said in a statement Reuters: “China has repeatedly expressed its position on Tiktok.
Meanwhile, when he announced an extension of the deadline on Friday, Trump announced that he did not want Tiktok to go black. He added: “We hope to continue to work sincerely with China.”
To comply with Trump's oath, the U.S. Attorney General sent an assurance letter to iPhone-M-Maker Apple that hosting Tiktok on its App Store will not be punished. AG directs Apple to “extend action according to Trump's deadline”, CNBC Report.
- Vishakha Saxena, with Reuters
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The forced sale of Tiktok in the United States is about security, not freedom of speech.
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