“You can use tariffs to get something in return,” the president told reporters.
President Donald Trump said on April 3 that he could consider an agreement agreeing to approve the sale of social media platform Tiktok from the parent company’s ordinance in exchange for relief from the tariffs China recently imposed on the country’s imports.
The president made his comment while talking to a reporter in front of Air Force 1. The sale of Tiktok is an example of how he uses tariffs as a negotiation tactic with other countries.
“You have a situation in Tiktok where China probably says, ‘We’ll approve the transaction, but will we do something with tariffs?’,” Trump said. “You can use customs duties to get something in return.”
There is an upcoming deadline of April 5th. This will force Tiktok to reach deals with non-Chinese buyers or face a potential ban in the US. Congress passed a law last year requiring the sale of US businesses of apps from ordinances based in Beijing.
Trump said several investors have been involved in reaching short video applications sales, and his administration said it was “very close” to the final decision on the deal.
The comments come a day after Trump announced that he would wipe out 10% baseline tariffs on all US trading partners, including over 50% mutual tariffs in some countries.
China will face a 54% total tariff on all products imported into the US after adding a 34% mutual tariff on top of the existing 20% tariff imposed on China earlier this year.
In an interview with Fox News on April 3, Vice President JD Vance said the administration’s decision on American buyers on Tiktok will be ahead of the April 5 deadline.
“It’s going to come out before the deadline,” Vance said. “I think we are in a good place, and we are going to continue working for it.
“We’ll continue to work on it and have a few days to finalize some things. Of course, we’ll have the President announce what we’ll make the final decision.”
As the deadline approaches, several bidders have expressed interest in purchasing the app. These include a consortium led by Amazon and OnlyFans founder Tim Stokely. Private equity firm Blackstone is also discussing joining Bytedance’s non-Chinese shareholders in providing new capital to bid on Tiktok’s US-based business.
The White House did not immediately respond to requests for comment on potential buyers for the video app.
US authorities cite national security concerns regarding Tiktok’s relationship with China’s communist regime, and the App and its parent company have denied it. Vance reiterated its concerns about Fox News on April 3rd.
“First of all, I want to make sure that the US Tiktoc app is not spying on people. That’s good for national security,” he said.
“You also want to have people access to this incredible platform. This is where, as we know, a lot of young people get their news…and we need to achieve both of them.”
While speaking to reporters on April 3, Sen. Josh Hawley (R-Mo.) was asked if he thought Trump should extend the suspension of Tiktok’s US ban if the administration fails to find a buyer before the deadline.
“I think we need a firewall with Beijing or we need to shut down Tiktok right now,” he said. “It’s a spy app for the Communist Chinese Party. So I hope they find buyers.”
Nathan Worster, Emeracan and Reuters contributed to this report.
