Donald Trump's recent 145% tariff on Chinese imports further complicates the negotiations surrounding TikTok's future in the U.S. Originally aimed at saving the app, this move has stalled talks towards a potential sale. The app's ownership by Bytedance, coupled with Beijing's insistence on control, adds layers of geopolitical tension to the discussions. Insights from industry executives suggest that Chinese reluctance to compromise publicly may effectively kill the deal, leaving TikTok's fate uncertain as negotiations drag on amidst ongoing trade wars.
‘The Chinese don't like losing face in public, so this deal is dead,’ said one Wall Street executive with direct knowledge of the negotiations, indicating the difficulty due to national pride during negotiations.
“Now they (the Chinese) won't sell. That's for sure,” another source stated, emphasizing the ramifications of the tariff strategy on negotiations with TikTok.
“We're going to have to wait to see what's going to happen with China,” said Trump, highlighting the uncertainty surrounding the future of TikTok amid escalating tensions.
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