Donald Trump says part of TikTok sale proceeds should go to the US.
US President says that a very large percentage of TikTok sale proceeds should go to the US treasury, sets September 15 deadline.
On Monday, President Donald Trump has stated that the sale proceeds of TikTok should go to the US treasury. Trump addressed reporters at a White House news conference and demanded a substantial chunk of the sale proceeds as he set a deadline of September 15, for the famous short video app of China to be out of business in the country unless it is taken over by an American company.
President Trump demands a large chunk of TikTok sale proceeds:
President Trump also wants the American company to purchase TikTok completely, 100%, and not the 30 percent as reportedly being negotiated now. TikTok’s parent company ByteDance has started talks with the US tech giant Microsoft, to buy the US operations of the short video application. Donald Trump, in the news briefing, said,” The United States should get a very large percentage of that price because we’re making it possible. Without us, you know, I use the expression, it’s like the landlord and the tenant. And without the lease, the tenant doesn’t have the value. Well, we’re sort of in a certain way, the lease. We make it possible to have this great success. TikTok is a tremendous success. But a big portion of it, in this country, it would come from the sale, yeah. Whatever the number is, it would come from the sale.”
Trump discusses TikTok sale with Satya Nadella:
Trump said that he has discussed the matter with Microsoft’s Indian-American CEO Satya Nadella. Microsoft in a statement on Sunday said that after Nadella-Trump conversation, the company will continue the discussions with ByteDance regarding the purchase of TikTok in the US.
Trump also said how crucial it was for the US to ban the operations of the China-based social media company, and demanded a huge chunk of the sale to the US treasury.
