'TikTok deal was close; China changed because of tariffs': Trump

Speaking to reporters aboard Air Force One, Trump stated that China would have approved the deal in 15 minutes if he had given a cut in tariffs.

When asked about a report that there was about to be a deal on TikTok but China changed its mind, Trump responded, "The report is that we had a deal, pretty much for Tiktok, not a deal, but pretty close, and then China changed the deal because of tariffs. If I gave a little cut in tariffs, they'd approve that deal in 15 minutes, which shows you the power of tariffs."

Last week, Trump announced that China would face a 34 per cent tariff. Following Trump's announcement, China announced it would impose reciprocal 34 percent tariffs on all imports from the US on April 10, CNN reported.

Donald Trump on Friday said that his administration had been working on a deal to "save TikTok" and that he would sign an executive order to keep the app operational for an additional 75 days.

Sharing a post on his social media platform Truth Social, Trump wrote, "My administration has been working very hard on a deal to SAVE TIKTOK, and we have made tremendous progress. The deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days."

Trump expressed hope that discussions with China would continue in "good faith," acknowledging that China was displeased with the US reciprocal tariffs. He defended these tariffs as essential for ensuring fair and balanced trade between the two countries. Trump emphasised that the goal was to prevent TikTok from "going dark."

"We hope to continue working in good faith with China, who I understand are not very happy about our reciprocal tariffs (Necessary for fair and balanced trade between China and the USA!). This proves that tariffs are the most powerful economic tool and very important to our national security! We do not want TikTok to "go dark." We look forward to working with TikTok and China to close the deal. Thank you for your attention to this matter," he further said in a post on Truth Social.

According to a CNN report, Trump's announcement came just one day before the ban was set to go into effect, after Trump delayed it by an initial 75 days when he took office in January.

Last year, former US President Joe Biden enacted a law mandating that TikTok's parent company, ByteDance, based in China, sell off the app or face a ban in the US due to national security concerns.

While the law was initially scheduled to take effect in January, Trump announced he would postpone its enforcement in an effort to negotiate an agreement that would keep the app "alive."

A ByteDance spokesperson said the TikTok parent company "has been in discussion with the US government regarding a potential solution for TikTok US."

In a statement, a ByteDance spokesperson said, "An agreement has not been executed. There are key matters to be resolved. Any agreement will be subject to approval under Chinese law."