China has stopped the deal with Tiktok over tariffs: Report

Since the United States approached a Chinese -owned agreement Tikotos to Involve its operations in the United States in a new company owned by US investors, the Chinese government has said it will not agree, citing Trump administration tariffs, the report said.

The deal was approved by investors, the US government and Chinese ownership of Bessseans, the owner of Tito, according to Reuters, citing two sources.

The Biddans will retain the minority stake in Tito in the deal.

President Trump On Wednesday, he announced a 34% tariff for goods coming to the United States from China at the top of the previously announced 20% tariff.

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Telt building

As the United States approached a deal with Chinese property Tiktok to turn their US activities into a new company owned by US investors, the Chinese government said it would not agree, citing Trump administration tariffs, ACCOR (Robin Beck / AFP through Getty Pictures / Getty Pictures)

Tito faced a ban in the United States in January if he fails to transfer to US investors, but Trump has extended the deadline for his office and re -expand it on Friday.

“My administration worked very hard on a deal to save Tito and we have made enormous progress,” he wrote about the “Truth Social” on Friday. “The contract requires more work to ensure all the necessary approvals, so I sign an executive order to keep Tito and work for an additional 75 days.”

Donald Trump

President Trump announced on Wednesday a 34% tariff for goods coming to the United States from China at the top of the previously released tariff of 20%. (Beat pictures of McNim / Getty / Getty pictures)

Child safety must be a priority for Tiktok negotiations, the parent group is encouraged by Vans

He added: “We hope we will continue to work with goodwill with China, which I understand are not very happy about our reciprocal tariffs (necessary for fair and balanced trade between China and the United States!). This proves that tariffs are the most powerful economic tool and very important for our national security!” We look forward to working with Titel and China to close the deal.

Xi Jinping

China reported retaliatory 34% tariffs for the United States on Friday (Tone Molina / Bloomberg through Getty Images / Getty Images)

China announced on Friday 34% tariffs to the US

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Trump said he would be ready to negotiate on tariffs If China agrees to the Bidan agreement.

Reuters contributed to this report.


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