China's tariffs derailed Trump's TikTok deal negotiations

The Trump administration had been working on a plan for TikTok, which would have given new investors 50% ownership and Chinese owners less than 20%. This structure was intended to address national security concerns. A draft executive order was being prepared. However, the deal stalled. China blocked the agreement due to President Trump's announcement of new tariffs on Chinese imports. The Chinese government's stance changed the trajectory of the deal. In response, Trump extended the deadline for a TikTok deal. He said the agreement was close, but China's change in stance impacted the plan. The deadline was pushed to mid-June.