U.S. President Donald Trump has stated that if cooperation is provided in selling the U.S. operations of the video-sharing site ‘TikTok’, owned by a Chinese company, to a U.S. entity, there could be a reduction in tariffs on China.
On the 26th, local time, President Trump mentioned at the White House, while announcing tariffs related to the automobile sector, that he expects the Chinese government to play a role in the sale of TikTok’s U.S. operations, and if successful, a small reduction of tariffs on China might be possible.
The U.S. Congress passed the so-called ‘TikTok Ban Act’ last April, citing concerns that TikTok’s parent company, China-based ByteDance, poses a national security threat by collecting large amounts of personal data from Americans.
The main content of the law is to prohibit TikTok’s operations within the U.S. unless its U.S. business is sold to a U.S. company within a set timeframe.
However, President Trump, who saw a ‘TikTok effect’ in appealing to younger voters during the election, signed an executive order right after his inauguration on January 20th to delay the actual enforcement of this law by 75 days.
Simultaneously, he proposed creating a joint venture between TikTok’s parent company ByteDance and an American corporation, making the U.S. firm’s shareholding over 50%, and also explored interest from other companies in acquiring TikTok.
Reporter: Kim Jandi
Caption Editing: Park Hae-jin
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