President Donald Trump wants to deny China some of the proceeds from the sale of ByteDance’s U.S. operations of its video-sharing app TikTok, White House economic adviser Larry Kudlow said on Wednesday, but it would be unusual for any company that acquires TikTok to provide funds to the U.S. Treasury.
“Well he’s said that,” Kudlow told CNBC when asked about Trump’s demand that part of the proceeds from the TikTok sale he has ordered go to the U.S. Treasury. “I acknowledge that it’s unusual. The president has his own mind on some of these things,” Kudlow said.
“I don’t know whether that will end up being the case when the Treasury gets its bids in from potential bidders. But the president has said that. I think he probably would like to deny China some of the proceeds of the TikTok sale,” Kudlow added.
Earlier today Trump promoted an alleged bid for TikTok by Oracle, whose chairman is a major Trump donor.
.@realdonaldtrump has publicly said he wants the U.S. treasury to get a cut of the TikTok sale. National Economic Council Director Larry Kudlow weighs in.
"I think he probably would like to deny China some of the proceeds of the TikTok sale." pic.twitter.com/n4XF1Jk4pz
— CNBC's Closing Bell (@CNBCClosingBell) August 19, 2020