The US should get a large share of TikTok sale proceeds: Trump

NY: US President Donald Trump has stated that the nation must gain a huge percentage(%) of the proceeds in case part of the short video-sharing platform TikTok’s business is purchased by an American company.

Trump stated that he made the insist that a “significant portion” of that cost must come into the US Treasury throughout a discussion with Microsoft CEO Satya Nadella over the weekend.

Microsoft on Sun. affirmed that it wanted to proceed with talks to buy the US business of TikTok.

The conversation between the Microsoft CEO & the US President resulted in setting a date for closure of the deal about Sep 15.

In case such a deal doesn’t materialise, TikTok going to be out of business within the US by that time, Trump stated.

“I stated a quite significant portion of that cost is going to have to come into the Treasury of the United States because we’re creating it possible for this deal to happen”

Trump stated in a gathering with US tech labour on Mon..

He even clarified the rationale behind his own insist.

“It’s a little bit like the landlord/tenant: Without a lease, the tenant has nothing. So they pay what’s named ‘key amount,’ (or) they pay something,” Trump stated.

“However the United States must be reimbursed (or) must be made payment a significant number of amount, because, without the United States, they don’t have anything — at the least having to accomplish with the 30 percent,” he stated.

Trump stated he doesn’t mind in case Microsoft, (or) any different “secure” American firm, purchases TikTok’s business within the US & he also revealed the observation with the Microsoft CEO that it’s “probably easier to purchase the whole thing than to purchase 30 percent of it.”

TikTok, controlled by Chinese unicorn ByteDance, is facing scrutiny over its data-sharing practises.

The Trump administration has rised allegations that TikTok given consumers with statistics to the Chinese govt.

Both Beijing & TikTok have refused the allegations.