President Trump said the federal government will have to be paid a “substantial amount of money” as part of any acquisition of TikTok by Microsoft.
President Trump said TikTok will have to close in the U.S. by Sept. 15 — unless there’s a deal to sell the social network’s domestic operations to Microsoft Corp. or another U.S. company.
“I don’t mind whether it’s Microsoft or someone else, a big company, a secure company, a very American company buys it,” Trump told reporters at the White House on Monday. “It’ll close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the Treasury of the United States gets a lot of money.”
Trump told reporters on Monday: “Whatever the price is that goes to whoever owns it — because I guess it’s China, essentially, more than anything else — I said a very substantial portion of that price is going to have to come into the Treasury of the United States.” The White House has said it’s concerned that TikTok’s parent company, ByteDance Ltd., could be compelled to hand over American users’ data to Beijing or use the app to influence the 165 million Americans, and more than 2 billion users globally, who have downloaded it. And Trump has looked to ratchet up pressure on China ahead of November’s election, frustrated by slow implementation of the trade pact inked earlier this year and the spread of the coronavirus for which he blames China.
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