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According to an AP source, China halted the TikTok deal after Trump announced extensive tariffs.. AI-Generated.
A source familiar with the negotiations who spoke to The Associated Press said that after former President Donald Trump announced sweeping tariffs on Chinese goods in September 2020, China reportedly backed away from a potential deal that would have allowed TikTok to continue operating in the United States. The new information sheds new light on the tensions that existed behind the scenes and ultimately stalled efforts to restructure TikTok's operations in the United States due to concerns about national security. The ByteDance, a Beijing-based company that owns the popular video-sharing app, came under intense scrutiny from the Trump administration, which wanted to either force a sale to an American company or ban it completely. TikTok's Failed Deal ByteDance was asked to sell TikTok's U.S. operations to an American company in 2020 by the Trump administration due to concerns that the Chinese government could access user data and influence content. Oracle and Walmart emerged as the most likely candidates to acquire a stake in the newly established TikTok Global, based in the United States, which would be in charge of the app's domestic operations. When Trump announced new tariffs on $200 billion worth of Chinese imports in the middle of September, the negotiations appeared to be getting closer to a conclusion. The move was part of a larger trade war his administration was fighting with China, which had already seen tariffs on electronics and agricultural goods go up. The AP source says that Chinese officials thought the new tariffs were bad faith and stopped working together on the TikTok deal right away. Beijing viewed any forced sale of TikTok as an unfair seizure of a Chinese tech asset, so it had been reluctant to approve it. The additional tariffs further strained relations, leading Chinese regulators to withhold necessary approvals for the transaction. Negotiations are sunk by geopolitical tensions. The fact that the TikTok deal fell apart demonstrates how wider tensions between the United States and China had an impact on what was initially framed as a matter of national security. To put pressure on ByteDance, the Trump administration used the Committee on Foreign Investment in the United States (CFIUS), but China's retaliatory actions prevented a resolution. “China was never going to let one of its most successful tech companies be dismantled under U.S. pressure,” said Paul Triolo, a technology policy expert at the consulting firm Albright Stonebridge. “The tariffs were the final straw—they signaled that the U.S. wasn’t negotiating in good faith.” After legal challenges stopped Trump's attempt to ban TikTok, the company continued to operate in the United States despite the stalled deal. Later on, the Biden administration took a different approach, putting more of an emphasis on data security reviews as opposed to a direct forced sale. Continuous Examination of TikTok TikTok remains a contentious issue in U.S.-China relations even without a ban. Concerns have been expressed by lawmakers from both parties regarding its data collection practices and the possibility of ties to the Chinese Communist Party. In April 2024, President Joe Biden signed a bill that could ban TikTok unless ByteDance sells its U.S. operations within a year—a move that has reignited tensions with Beijing. As a result of China's repeated declarations that it would oppose any forced divestiture, another conflict may be imminent. In the meantime, TikTok has taken steps to store American data on servers in the United States and has denied sharing user data from the United States with the Chinese government. What Comes Next? The deal that fell through in 2020 is a cautionary tale about how geopolitical tensions can make business negotiations difficult. TikTok's future is still uncertain due to the tech and trade rivalry between the United States and China. “The fundamental issue hasn’t changed,” said Samm Sacks, a cybersecurity policy fellow at Yale Law School. China will not tolerate what it considers to be bullying of its companies, and the United States wants assurances that TikTok is not a threat to national security. As the deadline for TikTok’s potential ban approaches, the app’s fate could once again hinge on the delicate balance between national security, corporate interests, and U.S.-China diplomacy.
By MD Maruf Hossain10 months ago in Trader
Dow Jones Rollercoaster: Market Trends Are Shaped by Jobs Data, Fed Speculation, and Tech Volatility
Over the past 24 hours, the Dow Jones Industrial Average (DJIA), a gauge of the health of the U.S. economy, has seen a flurry of activity that reflects the interaction of solid economic data, policy uncertainty from the Federal Reserve, and sectorspecific turbulence. Here is a comprehensive look at the forces that are driving the Dow and what investors should keep an eye on going forward, from record highs to sudden drops.
By Creative Vision10 months ago in Trader
Best Investment App for Beginners – A Guide to Smart Investing
With the world we live in today, which is the development world, it has never been easier to invest. With the world of digital media, anyone can invest through a few clicks on his/her phone screen. The selection of the best investment app for beginners is the formula to creating wealth effectively. If an individual needs stock investments, mutual funds, or SIPs, the right app can do it easily.
By jUMPP Finance10 months ago in Trader
Navigating the Stock Market Rollercoaster: A Human-Centric Guide to Futures, Indices, and Staying Sane
It’s 6:30 a.m., and your phone buzzes. You groggily swipe the screen, squinting at the headlines: “Dow futures drop 200 points amid inflation fears” or “S&P 500 futures rally on strong earnings.” Your stomach tightens. Should you check your portfolio? Buy the dip? Sell before the market opens? If this sounds familiar, you’re not alone. The stock market—with its dizzying mix of futures, indices, and breaking news—can feel like a high-stakes game where the rules change overnight. But here’s the secret: It doesn’t have to be overwhelming. Let’s break it down, together.
By John Arthor10 months ago in Trader
The Top 7 Financial Mistakes That Keep You Broke (And How to Avoid Them)
Introduction Are you constantly struggling to make ends meet, despite earning a decent income? You’re not alone. Many people find themselves trapped in a cycle of financial instability due to common but avoidable mistakes. Understanding these pitfalls and learning how to avoid them can help you take control of your financial future. In this guide, we will discuss the Top 7 Financial Mistakes that keep you broke and provide actionable solutions to break free from financial struggles.
By Kamel Saidani10 months ago in Trader
Dogecoin Holds Key Support: A Demand Spike Could Trigger A Rally
Current Market Analysis At present, Dogecoin is trading near a strong support zone, which has historically acted as a launching pad for price surges. This support level is being tested amidst fluctuating market sentiment, but the resilience of DOGE in holding this level is a positive sign.
By Md Johirul Islam10 months ago in Trader
Passive Income Secrets: 7 Ways to Make Money While You Sleep
In today’s fast-paced world, earning money without actively working for every dollar is the dream of many. Passive income provides a way to generate revenue with minimal ongoing effort, allowing you to achieve financial freedom and create a more flexible lifestyle. While it requires some initial investment of time, money, or both, the rewards can be substantial. Imagine waking up every morning knowing that your income is growing even while you sleep. Sounds like a dream? It doesn’t have to be. In this article, we’ll explore seven effective ways to build passive income streams that work for you around the clock.
By Gift Abotsi 10 months ago in Trader
Bank of America Sounds the Alarm: Is Your Account at Risk?
Bank of America customers across the country may be exposed to losing access to the means if they do not meet certain activity requirements. Financial institutions have confirmed that the state's ownership laws will be closed as inactive accounts. This is a step that can affect a wide range of financial products, from checking accounts to checking cashiers.
By arafat chowdhury10 months ago in Trader
Gold Price in Jordan: Trends, Influences, and Investment Tips
Gold has always been a symbol of wealth, security, and financial stability, making it one of the most sought-after investment assets worldwide. In Jordan, gold holds significant cultural and economic importance, serving as a safe haven, a hedge against inflation, and a traditional gift for weddings and special occasions. Understanding the factors that influence gold prices in Jordan helps investors and consumers make informed decisions.
By Gold Rate Jordan10 months ago in Trader
Top 8 Features to Look for in a Computer Room Raised Floor
Introduction A raised flooring system is a crucial component in modern computer rooms and data centers. It enhances functionality, improves cable management, and ensures optimal cooling and airflow. When selecting a raised floor for your computer room, it is essential to consider specific features that enhance performance, efficiency, and longevity. In this article, we will explore the top eight features to look for in a computer room raised floor to help you make an informed decision.
By Access Flooring Company10 months ago in Trader
Goals Don’t Define Us - Roadmaps Do.. AI-Generated.
When it comes to personal finance, goals are essential. Whether it’s saving for retirement, purchasing a home, funding a child’s education, or building an emergency fund, having clear financial goals gives us direction and purpose. However, simply setting goals is not enough. To truly achieve financial success, we must go beyond defining what we want to do—we must create a well-thought-out roadmap that outlines the necessary steps, decisions, and timelines to turn those goals into reality.
By SubhShanti Wealth10 months ago in Trader
