President Trump revealed that he was near finalizing a deal for TikTok's sale to a U.S. entity, only to have China alter its position following his steep tariff increase on Chinese goods. He emphasized the influence of tariffs on negotiations, suggesting that a slight reduction could facilitate a quick agreement. Trump further extended the deadline for TikTok's potential divestiture by 75 days, indicating a willingness to work collaboratively with China and TikTok to reach a satisfactory resolution without the app going 'dark.'
Trump mentioned that a deal regarding TikTok was nearly finalized, but it fell through after new tariffs were introduced, demonstrating how tariffs impacted negotiations.
I had a deal pretty much for TikTok - not a deal but pretty close - and then China changed the deal because of the tariffs, according to Trump.
If I gave a little cut in tariffs, they'd approve that deal in 15 minutes, which shows you the power of tariffs, Trump's comment indicated.
We do not want TikTok to 'go dark,' and we look forward to working with TikTok and China to close the Deal, Trump stated.
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