The Trump administration had a deal in place earlier this week to finalize the sale of TikTok, but the agreement fell apart after the massive tariffs announced by President Donald Trump on Wednesday took effect, according to a source familiar with the matter.
After several months of negotiations involving ByteDance, prospective buyers and Vice President J.D. Vance, a deal had been reached as of Wednesday that would have seen TikTok’s American operations spun off into a new U.S.-based entity owned by a majority of American investors, the source told the Daily Caller News Foundation. However, by Friday, the deal had fallen apart because TikTok came to believe that Chinese regulators would not sign off on the agreement in the absence of further trade negotiations pertaining to the tariffs the Trump administration slapped on China on Wednesday afternoon, according to the…
