Trump ‘willing’ to lower tariffs on China to do TikTok deal, Reuters reports

President Donald Trump said on Wednesday he would be willing to reduce tariffs on China to get a deal done with TikTok’s Chinese parent ByteDance to sell the app, Reuters’ David Shepardson and Dawn Chmielewski report. ByteDance has been told to find a non-Chinese buyer for TikTok by April 5 or face a U.S. ban on national security grounds that was supposed to have taken effect in January under a 2024 law. Trump is willing to extend the April deadline if an agreement over the social media app was not reached, according to the report. Oracle (ORCL) is considering a proposal for a sale of the U.S. operations of TikTok that would have it provide security assurances and take a small stake in a new American entity while potentially leaving the app’s algorithm in Chinese hands, while several other companies have privately expressed interest in participating in a deal for TikTok or its American operations, including Amazon (AMZN) and Microsoft (MSFT), according to previous reports. Companies in the social media space that compete with TikTok include Meta (META), Alphabet’s (GOOG) YouTube (GOOGL), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).