It is unclear whether US will get cut from proceeds of TikTok sale
September 26, 2020
USA

It is unclear whether US govt will get cut from proceeds of TikTok sale: White House

WASHINGTON (US) – A day after President Donald Trump demanded a cut of the proceeds from the sale of TikTok’s operations in the country, the White House did not say on Tuesday whether the government would receive a portion of the money.

“There’s no specific blueprint here,” said White House economic adviser Larry Kudlow.

“It may be that the president was thinking, because the Treasury has had to do so much work on this, there are a lot of options here. I’m not sure it’s a specific concept that will be followed through … Regarding fees or anything like that, all that remains to be seen,” Kudlow said.

White House spokeswoman Kayleigh McEnany did not give any other details. She said the US would take action on Chinese apps.

Trump on Monday said he would ban TikTok on Sept. 15 without a sale to another firm outside of China. Microsoft Corp said it is engaged in discussions to take over TikTok’s US operations.

Experts said the government does not have the authority to take a cut from private business sales.

(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field

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