The plan for the sale of properties failed on the day after Trump on April 2 announced huge duties.
Tiktok was suspended in selling American assets after China said he could not approve it because of the tariffs introduced by US President Donald Trump. Bloomberg reported this reference to its resources.
After the months of negotiations, US officials on Wednesday are near a transaction that will launch a new version of Tiktok in the United States, and where most American investors are owned and controlled.
“The proposal provided for a deduction on the part of the Chinese company by bytedance below 20%to comply with US law, which requires a Beijing -based company, to sell its part to Tiktok or inhibit application in the United States,” the media notes.
White House officials have planned that Trump will sign a command to approve this proposal – which will receive the support of investors and bytedance, and will open a 120 -day window to complete the transaction. The announcement should take place until the deadline – April 5 to prevent ban on the social network.
However, this plan failed on the day after Trump on April 2 announced major duties for US trade partners. Tariffs that increased the total rate in many imported Chinese goods up to 54%.
Bytedance representatives warned Thursday that the Beijing authorities would no longer provide their blessings until the negotiations of the tariffs took place.
We remind, Trump previously said he was talking to many interested parties on possible acquisitions. He later said that Microsoft Corp is interested in buying social networks.
Trump re -expands Tiktok sale time
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.