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President Trump said he would be willing to lower tariffs on China to get the deal for TikTok’s U.S. operations complete. ByteDance has until April 5 to find a buyer for these operations—but Trump has also signaled that he’s willing to extend the deadline.
The law signed by Joe Biden on national security concerns would have seen TikTok banned in the United States starting January 19. After a brief few hours spent offline that day, TikTok returned after assurances from President Trump that he would not enforce the $5,000 per download penalty. Shortly after assuming office, Trump signed an executive order granting TikTok a 75-day stay on the ban to complete the deal.
Since then, several potential suitors for TikTok’s U.S. operations have emerged from the woodwork including Frank McCourt, Steven Mcnuchin, Kevin O’Leary, and others. Trump has acknowledged that the deal still needs China’s approval to happen, stating: “maybe I’ll give them a little reduction in tariffs or something to get it done.” Trump added 20% tariffs to all imports from China in February.
Meanwhile, China’s Commerce Ministry said its position on tariffs remains consistent and that Beijing is willing to engage with Washington. That engagement must be on the basis of “mutual respect, equality, and mutual benefit.” China’s opposition to the deal would mean it must give up control of U.S. operations and the algorithm that powers TikTok’s ‘For You’ discovery feed.
Vice President JD Vance was tasked by the president with making the deal happen. He says he expects the general terms of an agreement that resolves the ownership of the platform to be reached by the April 5 deadline. But with less than a week to go and a recalcitrant ByteDance—it’s unclear if a deal will be struck in time. Especially when President Trump has signaled his willingness to extend the initial 75-day ban stay.
