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Trump: Willing to lower tariffs on China to facilitate ByteDance's sale of TikTok.

Cailian Press 2025-03-27 09:46:35

Financial Associated Press, March 27 (Editor: Huang Junzhi)U.S. President Donald Trump said on Wednesday that he is willing to lower tariffs on China in order to facilitate the sale of TikTok's parent company, ByteDance.

Trump's 10% tariff on Chinese imported products took effect last month, and at the beginning of this month, the tariff was raised by another 10%, provoking strong dissatisfaction from China. China has repeatedly stated that the unilateral tariffs imposed by the U.S. violate World Trade Organization rules, undermine the multilateral trading system, and not only fail to resolve its own issues but also disrupt Sino-U.S. economic and trade cooperation as well as the normal international trading order.

In April of last year, the U.S. Congress passed a law citing so-called national security concerns, requiring TikTok's parent company, ByteDance, to sell the app by January 19 of this year, or else the app would be banned in the United States. ByteDance had previously made it clear that it would not sell TikTok.

Interestingly, the day the ban took effect was also the day before Trump's inauguration. About 12 hours after the ban was implemented, the newly inaugurated Trump issued an executive order to delay the enforcement of the "no sale, no ban" legislation by 75 days. According to the timeline set by Trump's executive order,The effective date of this bill is about a week away, ending on April 5th.

Trump reiterated on Wednesday.If an agreement cannot be reached before next week, he is willing to extend the deadline.

"We will reach some form of agreement—TikTok is very popular," he said, "but if no agreement is reached, it's not a big deal, we can postpone. I have the right to reach an agreement, and if I want, I can also postpone."

U.S. Secretary of Commerce Howard Lutnick stated earlier this month that the President hopes to reach an agreement on the future ownership of TikTok within the current deadline and that the President "doesn't like delays." However, Lutnick noted at the time that Trump may not be able to reach an agreement before April 5.

Many buyers have already expressed interest in acquiring TikTok's U.S. subsidiary. This includes YouTube sensation MrBeast, as well as a joint bid from former Los Angeles Dodgers owner Frank McCourt and "Shark Tank" investor Kevin O'Leary.

Trump himself has stated that he is open to Elon Musk or Oracle Chairman Larry Ellison acquiring TikTok.

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Trump: Willing to lower tariffs on China to facilitate ByteDance's sale of TikTok.

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