World News
CHINA HIT BRAKE ON TIKTOK DEAL AFTER TRUMP ANNOUNCED WIDE RANGING TARIFFS
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Eghosa Osagiede
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Apr 6, 2025
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9 Views
A proposed deal to transfer TikTok's U.S. operations to American ownership has been paused following President Donald Trump's announcement of new tariffs on Chinese goods. The plan involved creating a U.S.-based entity with majority American investors, leaving ByteDance, TikTok's Chinese parent company, with a minority stake. Although the deal had received preliminary approvals, Chinese authorities halted the process in response to the tariffs. Los Angeles.
In response to the stalled deal, President Trump signed an executive order extending TikTok's operation in the U.S. by 75 days to allow more time for negotiations. However, this extension has faced criticism for potentially violating a 2024 law that mandated TikTok's divestment or ban due to national security concerns.
China's Foreign Ministry emphasized that decisions regarding company operations and acquisitions should be made independently by the companies themselves, in accordance with market principles and relevant laws.
The situation underscores the escalating trade tensions between the U.S. and China, with China's suspension of the TikTok deal viewed as a direct response to the newly imposed tariffs.
A proposed deal to transfer TikTok's U.S. operations to American ownership has been paused following President Donald Trump's announcement of new tariffs on Chinese goods. The plan involved creating a U.S.-based entity with majority American investors, leaving ByteDance, TikTok's Chinese parent company, with a minority stake. Although the deal had received preliminary approvals, Chinese authorities halted the process in response to the tariffs.
In response to the stalled deal, President Trump signed an executive order extending TikTok's operation in the U.S. by 75 days to allow more time for negotiations. However, this extension has faced criticism for potentially violating a 2024 law that mandated TikTok's divestment or ban due to national security concerns.
China's Foreign Ministry emphasized that decisions regarding company operations and acquisitions should be made independently by the companies themselves, in accordance with market principles and relevant laws.
The situation underscores the escalating trade tensions between the U.S. and China, with China's suspension of the TikTok deal viewed as a direct response to the newly imposed tariffs.
In response to the stalled deal, President Trump signed an executive order extending TikTok's operation in the U.S. by 75 days to allow more time for negotiations. However, this extension has faced criticism for potentially violating a 2024 law that mandated TikTok's divestment or ban due to national security concerns.
China's Foreign Ministry emphasized that decisions regarding company operations and acquisitions should be made independently by the companies themselves, in accordance with market principles and relevant laws.
The situation underscores the escalating trade tensions between the U.S. and China, with China's suspension of the TikTok deal viewed as a direct response to the newly imposed tariffs.
A proposed deal to transfer TikTok's U.S. operations to American ownership has been paused following President Donald Trump's announcement of new tariffs on Chinese goods. The plan involved creating a U.S.-based entity with majority American investors, leaving ByteDance, TikTok's Chinese parent company, with a minority stake. Although the deal had received preliminary approvals, Chinese authorities halted the process in response to the tariffs.
In response to the stalled deal, President Trump signed an executive order extending TikTok's operation in the U.S. by 75 days to allow more time for negotiations. However, this extension has faced criticism for potentially violating a 2024 law that mandated TikTok's divestment or ban due to national security concerns.
China's Foreign Ministry emphasized that decisions regarding company operations and acquisitions should be made independently by the companies themselves, in accordance with market principles and relevant laws.
The situation underscores the escalating trade tensions between the U.S. and China, with China's suspension of the TikTok deal viewed as a direct response to the newly imposed tariffs.