President Donald Trump announced on Thursday that he is considering a deal for TikTok, where China would approve the sale of the short video app, owned by ByteDance, in exchange for relief from U.S. tariffs on Chinese imports.
Speaking aboard Air Force One, Trump emphasized the potential for using tariffs as a negotiation tool with other countries, citing TikTok as an example.
Trump suggested that China could approve the TikTok deal if the U.S. offers tariff concessions, stating, “We could use tariffs in order to get something in return.” The deadline for TikTok to secure a deal with a non-Chinese buyer, or face a potential ban in the U.S., is April 5.
The President also confirmed that his administration is “very close” to reaching a deal on TikTok, with multiple investors involved. This announcement followed Trump’s decision the day before to impose a 10% baseline tariff on all imports to the U.S., along with higher duties on goods from some of the country’s biggest trading partners.
Consequently, China now faces a 54% tariff on goods imported into the U.S.
