'Well he's said that,' Kudlow said I an interview with CNBC when asked about Trump's demand that part of the proceeds from the TikTok sale he has ...
WASHINGTON: President Donald Trump wants to deny China some of the proceeds from the sale of ByteDance's US operations of its video-sharing app TikTok, White House economic adviser Larry Kudlow said on Wednesday, but it would be unusual for any company that acquires TikTok to provide funds to the US Treasury.
"Well he's said that," Kudlow told CNBC when asked about Trump's demand that part of the proceeds from the TikTok sale he has ordered go to the US Treasury."I acknowledge that it's unusual. The president has his own mind on some of these things," Kudlow said. "I don't know whether that will end up being the case when the Treasury gets its bids in from potential bidders. But the president has said that. I think he probably would like to deny China some of the proceeds of the TikTok sale," Kudlow added.
Trump ordered ByteDance last week to divest TikTok's US operations within 90 days, the latest effort to ramp up pressure on the Chinese company over concerns about the safety of the personal data it handles. Trump has said he would support an effort by Microsoft Corp to buy TikTok's American operations if the US government gets a"substantial portion" of the proceeds, but has also said there are other interested potential buyers.Oracle Corp has joined some of the investors of TikTok's Chinese owner ByteDance in pursuing a bid for the app's operations in North America, Australia and New Zealand, according to people familiar with the matter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Unusual for any company that acquires TikTok to give funds to US Treasury: White House aide'Well he's said that,' Kudlow said I an interview with CNBC when asked about Trump's demand that part of the proceeds from the TikTok sale he has ...
Read more »
US Treasury's Mnuchin says any deal for TikTok will protect US dataU.S. Treasury Secretary Mnuchin on Tuesday declined comment about a report that Oracle Corp had entered the bidding for TikTok, but said any deal ...
Read more »
TikTok ramps up defence against US accusations[SAN FRANCISCO] TikTok on Monday stepped up its defence against US accusations that the popular video app is a national security threat, denouncing what it called 'rumours and misinformation' about its links to the Chinese government. Read more at The Business Times.
Read more »
As US targets China tech, TikTok rival Bigo shifts servers from Hong Kong to Singapore(REUTERS) - Bigo Technology, a smaller rival of embattled Chinese appmaker ByteDance, is shifting servers from Hong Kong to Singapore, out of the reach of a new national security law at a time when it is seeking to emphasise independence from its Chinese parent.. Read more at straitstimes.com.
Read more »