TAIPIEI, TAIWAN-China’s objections to new American prices have blocked an agreement to sell Tiktok on Sunday and continue to operate in the United States, said President Donald Trump on Sunday, stressing that he did not overthrow prices on foreign nations unless the exchanges are submitted to which the United States is confronted with various countries, including China.
Trump administration officials have worked on an agreement to sell the popular social media app, owned by Bytedance, based in China, to an American buyer, as required by a bipartite law promulgated in 2024. But this also requires China’s approval.
“We had an almost agreement for Tiktok – not an agreement but close enough – then China changed the agreement due to prices,” Trump told journalists. “If I gave a little prices, they would have approved this agreement in 15 minutes, which shows the power of the prices.”
Trump on Wednesday signed a large -scale “reciprocal rate” policy on Wednesday, in which he imposed a rate of 34% on China. Coupled with existing 20% prices on Chinese imports, the real rate of price on China is now 54%.
Friday, China announced that it was in the process of retaliation, with its own price of 34% on all imports from the United States from April 10. He also announced his intention to restrict the exports of certain rare earth elements.
Before Trump announced widespread prices, the Tiktok agreement would have been close, advanced by a consortium of American investors, but Trump said that China’s objections led to the pact. The Washington Post reported earlier than Trump movements to increase prices on China had blocked talks.
Trump previously said that he could consider reducing China’s prices to help facilitate a Tiktok agreement.
The US Congress had initially obliged the short video platform found a new non-Chinese owner before January 19 for national security reasons, Trump later extending the deadline until April 5.
During his first mandate as president, Trump had tried to ban Tiktok, but an American federal judge judged that the president did not have the power to prohibit the application. After this legal reprimand, the Congress adopted the bill calling for the sale of Tiktok, which the president of the time, Joe Biden, signed.
Some legislators in the United States have said that China could access Tiktok’s personal data to influence political opinion in the country, but the Chinese Foreign Ministry said that the country’s government had never asked companies to “collect or provide data, information or information” organized in foreign countries.
Tiktok, who has offices in Singapore and Los Angeles, said he favors user safety.
Trump said he would maintain prices on foreign nations unless trade deficits in the United States with various countries, including China, be eliminated.
“Hundreds of billions of dollars a year that we lose with China,” Trump told journalists on Sunday
“And unless we solve this problem, I will not conclude an agreement,” said Trump, adding that he was “willing to face China, but they have to resolve their excess”.
The 10% reference rate imposed by Trump on almost all trade partners entered into force on Saturday morning, with a second wave of prices which should come into force on Wednesday morning. These new measures, combined at prices recently implemented on foreign metals, cars and goods from Canada, Mexico and China, have increased American import prices by almost ten times their previous levels.
Trump’s trade policies have aroused generalized opposition, attracting criticism of the American allies.
China has responded with a series of aggressive countermeasures, while other countries are trying to negotiate reduced rates.
Vietnam, which faces one of the highest rate rates offered at 46%, for example, requires a 45 -day postponement and has proposed to eliminate its own prices.
Taiwan president, Lai Ching-Te, offered zero tariffs on Sunday as a base for talks with the United States, committing to suppress trade barriers and say that Taiwanese companies would increase their American investments.
Asian markets plunged on Monday, the Japanese reference Nikkei falling by more than 8% shortly after opening.
The Hong Kong Hang Seng index has dropped 9% in early trade, the actions of Chinese technology giants Alibaba and tence more than 8%.
In South Korea, the Kospitic index trade was interrupted for five minutes at 9:12 am while the actions fell.
The Taiwan Stock Exchange fell by almost 10% on Monday open, the first day of negotiation since the announcement of the prices due to two days of vacation last week. The falls were motivated by the largest flea manufacturer in the world TSMC and the largest contractual manufacturer in the world Foxconn, and have marked the largest daily point and the loss of percentage ever recorded, according to local media.
Trump said that he had spoken to leaders from Europe and Asia over the weekend, who hope to convince him to reduce prices that reach 50% and who should come into force this week.
“They come to the table. They want to speak, but there is no discussion unless they pay us a lot of money every year,” he said.
In addition, the secretary of the United States of the Treasury, Scott Bessent, said that more than 50 nations had started negotiations with Washington since last Wednesday’s announcement.
“He created a maximum lever effect for himself,” said Bessent on NBC News’ puts the press, referring to Trump.
Bessent added that there was “no reason” to anticipate a recession, citing the growth of American jobs stronger than jobs last month, before the prices were announced.
Neither Trump nor Bessent appointed countries or offered details on talks.
Edited by Mike Firn.