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White House says unclear whether US government will get cut of TikTok sale

White House says unclear whether US government will get cut of TikTok sale

4/8/2020 11:13:00 PM

White House says unclear whether US government will get cut of TikTok sale

WASHINGTON (REUTERS) - White House officials on Tuesday (Aug 4) could not say how the US government would receive a portion of the proceeds from any sale of TikTok's US operations, one day after President Donald Trump called for a cut of the money.. Read more at straitstimes.com.

"There's no specific blueprint here," White House economic adviser Larry Kudlow said on Fox Business Network on Tuesday."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."

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White House spokeswoman Kayleigh McEnany, speaking to reporters at a separate briefing, also gave no other details and said she did not want to get ahead of Trump on the issue.She reiterated that the United States planned to take some action on Chinese-owned apps, including TikTok, in coming days but gave no details.

She twice declined to say how legally the United States could take a cut of the sales proceeds.On Monday, Trump said he would ban the popular Chinese-owned short-video app on Sept 15 without a sale to another company outside of China.Microsoft has said it is in talks to acquire TikTok's US operations. headtopics.com

Experts have said the US government generally does not have the authority to take a cut of private business sales.US to act on TikTok, other Chinese apps 'in coming days': White House But Trump, a real estate developer and former reality television star who has touted his"art of the deal," on Monday said"a very substantial portion" of any TikTok sale must go to the US Treasury"because we're making it possible for this deal to happen."

Read more: The Straits Times »

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