Save Tiktok
China’s resistance to the sale of Tiktok will undermine the efforts Trump has made. Trump has vowed to “save Tiktok” by halting enforcement of laws that enforce the sale or ban during negotiations to sell, the Washington Post reported.
Last year, President Biden signed a law aimed at addressing national security concerns about Bytedance, Tiktok’s Chinese parent company. On Trump’s first day in office, he issued an executive order to delay law enforcement for 75 days, seeking alternative solutions rather than a complete ban.
Reports say Trump has positioned himself as a key deal maker. He also last month expressed “great interest” in buying the app, claiming that many “very substantial people” would report to decide on a buyer within 30 days.
This week, he even came to the idea that the US would buy Tiktok through a sovereign wealth fund. In December, “Shark Tank” star Kevin O’Leary traveled to Mar-A-Lago and, together with the business’s massive Frank McCourt, pitched Trump a $20 billion offer to the app. Even Microsoft, the preferred buyer of Tiktok in 2020, has also expressed interest in doing business.
Trade wars
The disapproval of China’s sale comes as tensions between the two countries have spread into a trade war and Trump is imposing tariffs on Chinese imports. In response, Beijing restricted the export of major minerals of high-tech products and launched a Google anti-trust investigation.
Rui Ma, an investor and analyst studying Chinese tech companies, said such a strategy would be seen as Chinese people stand up to Trump and protect locally created products, according to Washington. The post reported.
According to some geopolitical observers, Tiktok could be a tip in negotiations as the two superpowers negotiate tariffs and trade.
FAQ
Why is China resisting the sale of Tiktok?
According to reports, China has taken a firm stance on selling its apps, possibly using it as a negotiation tip in trade negotiations with the US.
What role does Trump play in trying to save Tiktok?
Trump has positioned himself as a major deal maker and is actively negotiating with potential buyers, even suggesting that the US could buy the app through sovereign wealth funds.
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