Why Trump is starting ‘not to give a crap’ if TikTok goes dark — at least briefly | Latest Tech News
[ad_1]
President Trump is starting “not to give a crap” if TikTok briefly goes dark as the end to the latest ban extension looms, On The Money has discovered.
Trump has drained of China dangling TikTok as a carrot to gain an benefit in ongoing commerce talks over tariffs, people with information of the discussions said.
The two sides have been close to a commerce deal, Trump and Treasury Secretary Scott Bessent have said in current days, forward of next Tuesday’s deadline for an settlement.
There’s a 50-50 shot TikTok fades to black come the Sept. 17 deadline for a deal – at least for a while until both Trump and Chinese President Xi Jinping settle on a commerce pact that consists of retaining the app live. Donald Pearsall / NY Post Design
But those talks may also stretch into the autumn as they hammer out the ultimate particulars, Bessent has urged.
That’s why the betting inside the TikTok deal pool is that there’s a 50-50 shot it fades to black come the Sept. 17 deadline for a TikTok deal – at least for a while until both Trump and Chinese President Xi Jinping settle on a commerce pact that consists of retaining the app live.
More From Charles Gasparino
You is likely to be considering that Trump just may kick the can down the street with another govt order extension, proper?
Well not so fast, I’m told, including by one individual close to the TikTok talks who relayed the dearth of “crap” Trump feels if the video-sharing app is briefly yanked.
The deal only works if US traders are prepared to put up tens of billions of {dollars} to buy the app from the Chinese company ByteDance, and if the Chinese are keen to give up enough control to fulfill the ban law.
The deal only works if US traders are prepared to put up tens of billions of {dollars} to buy the app from the Chinese company ByteDance, and if the Chinese are keen to give up enough control to fulfill the ban law. AFP via Getty Images
Investors, however, are getting nervous over the a number of extensions by Trump that seem to be circumventing established law.
They concern there may come a level when Congress says enough.
Also, China needs to retain a minority stake in the company and possession of the all-important app that retains customers engaged by offering them a nonstop provide of most well-liked videos.
Investors are listening to from China-hawks in Congress — those who actually consider the app’s person data is used by the Chinese surveillance state for spy-craft functions — that even a minority stake by the Chinese may violate the law.
TikTok supporters in 2023 protested against a ban. Getty Images
If so, and if they agreed to a deal, these traders may very well be on the hook for a whole lot of billions of {dollars} of legal responsibility if let’s say a less deal-friendly DOJ after Trump leaves workplace brings a case given the best way the ban law is written.
Some non-public traders are demanding indemnification or their out.
Trump might also be dropping persistence with the entire TikTok saga. He has touted that he has a number of patrons to create what is basically a new US company to keep it alive, but people concerned in the deal doubt that he’ll enable Xi to use it as a bargaining chip in the broader commerce deal, I’m told.
He isn’t going to give up a lot just to keep TikTok alive, they predict.
A White House spokesman had no remark.
TikTok and its estimated 170 million US customers acquired a new lease on life after its once fiercest critic, Trump, pulled a major U-turn. He needed it banned when he was president the first time, believing it was used by the Chinese surveillance state for nefarious functions.
More just lately, he needed it saved after he got here to consider pro-Trump messaging on the app helped him win in 2024 by turning a swath of TikTok’s youngish customers into die-hard MAGA supporters.
Just hours into his second time period, Trump overruled bipartisan laws signed into law by President Biden and upheld by the Trump-friendly Supreme Court that banned the app unless it divested from the Chinese by Jan. 19.
Through govt orders he has prolonged the life of the app a number of instances since.
[ad_2]
[youtube_videos keyword=”Why Trump is starting ‘not to give a crap’ if TikTok goes dark — at least briefly”]
Stay informed with the latest in tech! Our web site is your trusted source for breakthroughs in artificial intelligence, gadget launches, software program updates, cybersecurity, and digital innovation.
For recent insights, skilled coverage, and trending tech updates, go to us frequently by clicking right here.