United States President Donald Trump says he would be willing to reduce tariff rates on China to secure a deal with TikTok’s Chinese parent company ByteDance to sell the social media app used by 170 million Americans, Reuters reported.
Trump's proposal came as he proposed a 25% tariff on imported autos and auto parts, the latest salvo in a deepening trade war that has strained relations with allies and partners.Earlier this month, Trump boosted additional duties on all Chinese imports to 20%, up from 10% in February, according to Reuters.
Under US law, ByteDance was obligated to withdraw from TikTok by January 19 or face a ban. However, Trump allowed a 75-day grace period, which will end on April 5.
Trump has stated that he is open to extend the deadline if an agreement on the social media app is not achieved.
