In a dramatic turn of events, the much-anticipated spin-off of TikTok’s U.S. assets has been postponed following China’s unexpected disapproval. This decision comes on the heels of President Donald Trump’s recent tariff hike announcement, complicating negotiations further.
The deal, which involves ByteDance reducing its ownership to under 20% and establishing a new, majority U.S.-owned company, faces significant challenges. ByteDance remains locked in discussions with U.S. officials over unresolved issues, as both parties navigate the evolving geopolitical landscape.
President Trump, extending the deadline for a resolution, expressed readiness to work with China on finalizing the deal. With trade tensions mounting due to new tariffs, the future of TikTok’s U.S. operations hangs in the balance.
(With inputs from agencies.)
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