The Trump administration briefly believed it had reached an agreement to save TikTok by restructuring its ownership to meet new federal laws concerning national security. This plan proposed that new American investors would hold 50% of TikTok while ByteDance would own less than 20%. However, the deal faltered after China expressed refusal to proceed due to tariffs announced by President Trump on Chinese imports. Consequently, Trump extended the deadline for TikTok's compliance until mid-June, hoping to allow negotiations to continue.
Under the proposed ownership structure, TikTok would satisfy federal law requiring a new owner to address national security concerns. New investors would own 50%.
ByteDance informed the White House that Beijing was comfortable with the new ownership setup until President Trump announced tariffs on Chinese imports.
Collection
[
|
...
]