President Trump announced today that his tariffs on China have increased to 125%, potentially impacting the ongoing deal for TikTok’s owner, ByteDance, to find a non-Chinese buyer for the app. Trump stated that China is not thrilled about the deal currently on the table, but he remains open to seeing how things unfold.
ByteDance must secure a non-Chinese buyer for TikTok to avoid a ban in the United States under a federal law passed last year. Trump’s decision to escalate tariffs on China comes amidst strained relations between the two countries, with Trump expressing his dissatisfaction with China’s treatment of the United States.
Despite the tough stance on tariffs, Trump mentioned that he still respects Chinese President Xi Jinping and is open to meeting with him. The announcement of pausing the massive tariff increases is seen as a shift in negotiation tactics, with Trump indicating that there may be room for negotiations moving forward.
The decision to pause the tariff increases came after discussions with top advisers, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. Trump emphasized that the decision was made with the intention of benefiting both the U.S. and the world as a whole, aiming to avoid hurting countries with the increased tariffs.
Overall, Trump’s decision to pause the tariff increases on China has led to positive market gains after days of volatility, signaling a potential shift in negotiation tactics moving forward.
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