Trump wants the U.S. government to 'get a lot of money' for allowing the Microsoft-TikTok deal
President Donald Trump told reporters Monday that he’ll follow through with plans to ban TikTok in the U.S. if Microsoft doesn’t clinch a deal to buy a portion of the social media platform by September 15—and claimed that any acquisition will have to involve paying a “significant amount of money” to the federal government for allowing the deal to take place.Trump announced Friday his intention to ban TikTok in the U.S.
The president said he wants Microsoft to purchase TikTok in its entirety, rather than a stake in the company. Trump claimed that “a very substantial portion” of the money Microsoft pays for TikTok “is gonna have to come into the Treasury of the United States, because we’re making it possible for this deal to happen.”
Trump likened the Treasury’s supposed claim to the TikTok deal to a landlord-tenant relationship, but did not offer any details on what the government’s proposed cut of the TikTok deal would look like and whether it would take the form of taxation or a direct payment.TikTok is “a great asset, but it’s not a great asset in the United States if they don’t have the approval of the United States,” Trump said Monday.
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TIMELINE: TikTok may be bought by Microsoft after huge pressure from Trump administration - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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