Trump Announces Possible TikTok Deal with China

US President Donald Trump has announced that he will start negotiating with China on Monday or Tuesday about a possible deal for the TikTok short-video app. According to Trump, the US "pretty much" has a deal on the sale of TikTok, which would involve a new US-based firm majority-owned and operated by US investors. The deal had been in the works last spring but was put on hold after China indicated it would not approve it due to Trump's announcements of steep tariffs on Chinese goods.

Key Takeaways:

• US President Donald Trump announced that he will start negotiating with China on Monday or Tuesday about a possible deal for TikTok.
• The US "pretty much" has a deal on the sale of TikTok, which would involve a new US-based firm majority-owned and operated by US investors.
• The deal had been in the works last spring but was put on hold after China indicated it would not approve it due to Trump's announcements of steep tariffs on Chinese goods.
• The proposed deal would require approval from China, with Trump indicating that he is not confident but thinks it will be approved.
• President Xi and US President Trump have a great relationship, which Trump believes will help facilitate the deal.
• The deal has the potential to be good for both the US and China, with Trump suggesting that it is mutually beneficial.

Statistics:

• The deadline for China-based ByteDance to divest the US assets of TikTok has been extended to September 17.
• The proposed deal would involve a new US-based firm majority-owned and operated by US investors.

Sources:

• The New Nation (no date provided) - "Trump to talk to China on TikTok deal on Monday or Tuesday"
• Published by HT Digital Content Services with permission from The New Nation.