Trump Suggests Tariff Cuts If China Allows ByteDance To Divest TikTok In US Deal

President Trump has suggested that he could cut tariffs on Chinese goods, according to the Financial Times. This would occur if Beijing agrees to allow ByteDance, the owner of TikTok, to divest the app to avoid a ban in the US. The comments came shortly after Trump imposed reciprocal tariffs on multiple countries, including a 34% levy on Chinese imports. Trump stated his administration is close to finalizing a deal with investors that would allow TikTok to continue operating in the US. Concerns remain over who would control TikTok's algorithm, a key issue in the ongoing negotiations. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.