Washington: China has blocked a proposed deal to sell Tiktok’s U.S. business to U.S. investors in response to President Trump’s decision to significantly increase tariffs on Chinese imports.
According to one of the sources, the structure of the deal will be completed on Wednesday, which will be finalized on Wednesday, which will allow Tiktok’s U.S. operations to move to a new U.S.-based company owned and operated by most U.S. investors. Wildness will make minority stakes below 20%.
Sources said the deal was approved by existing investors, new investors, barbarians and the U.S. government.
Pairand and the White House did not immediately respond to requests for comment. The Chinese Embassy in Washington, DC also did not immediately respond to a request for comment.
President Donald Trump extended the deadline for Chinese technology companies on Friday by 75 days, selling assets of popular short video app Tiktok to non-Chinese buyers or facing a ban that goes into effect under the 2024 law.
“This deal requires more work to ensure all the necessary approvals are signed,” Trump said on social media, explaining why he was extending the January deadline, which was supposed to expire on Saturday. “We hope to continue to work sincerely with China, and I understand that China is not very satisfied with our reciprocal tariffs.”
China now faces 54% tariffs on goods imported to the U.S. after Trump announced a 34% rate hike this week, prompting China to retaliate on Friday. Trump said he is willing to reduce tariffs on China to finalize a deal with the beast to sell apps used by 170 million Americans.
