• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Did tariffs kill the TikTok deal? Donald Trump blames Beijing

by April 7, 2025
by April 7, 2025

Donald Trump asserts that a potential deal with China regarding the sale of TikTok faltered after he unveiled his new tariff policies.

Trump made these claims while speaking to reporters aboard Air Force One on Sunday, as he returned to Washington after a weekend of golfing in Florida.

“We had a deal pretty much for TikTok — not a deal but pretty close — and then China changed the deal because of the tariffs,” Trump stated.

He went on to suggest that a reduction in tariffs could quickly pave the way for an agreement.

“If I gave a little cut in tariffs, they’d approve that deal in 15 minutes, which shows you the power of tariffs,” he added, hinting at a potential negotiating tactic.

Donald Trump keeps TikTok sale alive

Trump’s comments follow his announcement on Friday that he planned to extend the deadline for TikTok’s sale, offering ByteDance, TikTok’s Chinese owner, additional time to finalize a deal.

On Truth Social, Trump stated that he would sign an executive order granting ByteDance 75 more days to either sell its stake in the app or face a ban in the US.

“We do not want TikTok to ‘go dark,’” Trump wrote in a Truth Social post on Friday.

We look forward to working with TikTok and China to close the Deal.

Trump has consistently used tariffs as a bargaining chip in his dealings with China, aiming to exert pressure and force concessions on a TikTok sale.

On Thursday, a day after imposing a baseline 10% tariff on imports from all countries and increasing China’s tariff rate to 54%, Trump stated that he would consider cutting deals with countries over the tariffs only if they were willing to offer the US “something that’s so phenomenal.”

A history of hints: Trump’s tariff-for-TikTok strategy

“For instance, with TikTok as an example, we have the situation with TikTok, where China will probably say, ‘We’ll approve a deal, but will you do something on the tariff?’” Trump told reporters on Air Force One.

Prior to that, on March 26, he had indicated that he might offer China a “little reduction in tariffs” to “get it done,” further suggesting a potential quid pro quo.

In response to the U.S.’s 34% additional tariffs, China retaliated with its own set of 34% tariffs on all US goods on Friday, escalating trade tensions between the two economic giants.

Reacting to Trump’s increased tariffs on Wednesday, China’s Commerce Ministry issued a statement asserting that it would “resolutely take countermeasures to safeguard its own rights and interests.”

Trump initially extended the deadline in January upon entering office, giving ByteDance until April 5 to finalize a plan.

The app briefly went dark for its US users on January 18 before service was restored.

Several parties have expressed interest in acquiring TikTok, including Trump’s former treasury secretary, Steve Mnuchin, Reddit cofounder Alexis Ohanian, former Los Angeles Dodgers owner Frank McCourt, and YouTuber MrBeast.

Representatives for TikTok, the Chinese Embassy in Washington, D.C., and Trump did not respond to requests for comment from Business Insider.

The post Did tariffs kill the TikTok deal? Donald Trump blames Beijing appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Sensex and Nifty 50 crash 5% as China’s 34% tariff retaliation shakes Asian markets
next post
Asian markets plummet as Trump’s tariffs trigger global recession fears

Related Posts

BYD’s July sales stall, casting doubt on 2025...

August 2, 2025

US stock plunge as jobs data disappoints and...

August 2, 2025

Moderna cuts 2025 revenue to $2.2B after UK...

August 2, 2025

Brazil antitrust watchdog probes Microsoft after Opera complaint...

August 2, 2025

Reddit shares surge 20% on record profit and...

August 2, 2025

OpenAI raises $8.3B as AI demand grows: report

August 2, 2025

Novo Nordisk stock posts worst week since 2021,...

August 2, 2025

Private equity giants accelerate push into UK pension...

August 2, 2025

Tesla ordered to pay $329M over fatal autopilot...

August 2, 2025

Why Friday’s sell-off in S&P 500 was not...

August 2, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • BYD’s July sales stall, casting doubt on 2025 delivery target

    August 2, 2025
  • US stock plunge as jobs data disappoints and tariff tensions rise

    August 2, 2025
  • Moderna cuts 2025 revenue to $2.2B after UK booster delay

    August 2, 2025
  • Brazil antitrust watchdog probes Microsoft after Opera complaint over edge browser practices

    August 2, 2025
  • Reddit shares surge 20% on record profit and strong revenue outlook

    August 2, 2025
  • OpenAI raises $8.3B as AI demand grows: report

    August 2, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 6

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 7

    Elon Musk says federal employees must fill out productivity reports or resign

    February 23, 2025

Categories

  • Economy (2,057)
  • Editor's Pick (203)
  • Investing (185)
  • Stock (1,371)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

FTSE 100 Index is surging: here are...

May 6, 2025

New fuel rule changes shake up Mediterranean...

April 30, 2025

AstraZeneca commits $50B to US expansion amid...

July 22, 2025