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White House says unclear whether U.S. government will get cut of TikTok sale

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WASHINGTON White House officers on Tuesday couldn’t say how the U.S. government would obtain a portion of the proceeds from any sale of TikTok’s U.S. operations, at some point after President Donald Trump known as for a cut of the cash.

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

White House spokeswoman Kayleigh McEnany, chatting with reporters at a separate briefing, additionally gave no different particulars and mentioned she didn’t wish to get forward of Trump on the problem. She reiterated that the United States deliberate to take some motion on Chinese-owned apps, together with TikTok, in coming days however gave no particulars. She twice declined to say how legally the United States might take a cut of the sale proceeds.

On Monday, Trump mentioned he would ban the favored Chinese-owned short-video app on Sept. 15 with out a sale to a different firm outdoors of China. Microsoft Corp has mentioned it’s in talks to amass TikTok’s U.S. operations.

Experts have mentioned the U.S. government typically doesn’t have the authority to take a cut of non-public enterprise gross sales. But Trump, an actual property developer and former actuality tv star who has touted his “art of the deal,” on Monday mentioned “a very substantial portion” of any TikTok sale should go to the U.S. Treasury “because we’re making it possible for this deal to happen.”

The president reiterated the decision on Tuesday, saying at a information convention that he had informed Microsoft that “whatever the price is, a very big proportion of that price would have to go to the Treasury of the United States.”

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Kudlow informed Fox Business Network that such a provision might not be “a key stipulation.”

Disclaimer: This put up has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor


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