TikTok deal put on hold after China indicated it would reject deal over tariffs: Reports

A deal to spin off the US assets of TikTok was put on hold after China indicated that it would not approve the deal following President Donald Trump’s reciprocal tariffs announcement, according to two sources familiar with the matter. The deal, the structure of which was largely finalized by Wednesday, according to one of the sources, would have spun off TikTok’s U.S. operations into a new company based in America and owned and operated by a majority of US investors. ByteDance would hold a minority position of under 20 per cent.