Tolga Akmen/AFP/Getty Images; Clancy Morgan/Business Insider
Trump defended his threat to condition the sale of TikTok to an American company on the US government receiving a “very big proportion” of the deal during a press conference Tuesday.
“We have all the cards, without us you can’t come into the United States,” Trump said.
Trump did not elaborate on how he plans to require the companies to pay up or which side the money would come from, but claimed that TikTok and Microsoft — which are in acquisition talks — both agreed that the US should receive a payout.
Trump threatened to ban the app from operating in the US last month, citing national security concerns, though it’s unclear what authority he has to do that.
China responded by calling the US a “rogue country” and arguing Trump’s proposal would be an “open robbery.”
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President Donald Trump doubled down on his demand that any sale of TikTok to an American company involve the US government receiving a “very big proportion.”
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Trump wants the Treasury to get a substantial cut of any TikTok acquisition. China’s state media says that would be ‘open robbery.’This chart shows how a Microsoft acquisition of TikTok for $50 billion would stack up against tech’s largest deals everInside the rise of TikTok, the viral video-sharing app that Trump is trying to order its Chinese parent to sell
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