He advocates for long-awaited divestment as deal deadline draws closer.
President Donald Trump recently said he would consider reducing tariffs against China if TikTok’s parent company ByteDance manages to sell the company before a federal deadline in two weeks.
“With respect to TikTok, and China is going to have to play a role in that, possibly in the form of an approval, maybe, and I think they’ll do that,” President Trump said in the Oval Office last week. “Maybe I’ll give them a little reduction in tariffs or something to get it done.”
“Because every point in tariffs is worth more than TikTok,” he continued.
President Trump also expressed willingness to extend the deadline for the mandated divestment if a deal is not reached. He said. “We’re going to have a form of a deal. But if it’s not finished it’s not a big deal, we’ll just extend it. I have the right to have the deal and to extend it if I want.”
In recent months, the European Union (EU) placed high tariffs on electric vehicles (EV) made in China, causing a strain on the Chinese economy. The EU took action because the imports were undermining sales and development of domestic EVs.
As the Lord Leads, Pray with Us…
- For President Trump and administration officials as they promote the divestment of TikTok by the Chinese parent company, ByteDance.
- For wisdom for the president as he weighs the tariffs on various global trading partners.
Sources: The Hill, The Epoch Times
