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Unusual for firm acquiring TikTok to give funds to US Treasury: White House

Trump ordered ByteDance last week to divest TikTok's US operations within 90 days

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Trump has said he would support an effort by Microsoft Corp to buy TikTok's American operations if the U.S. government gets a "substantial portion" of the proceeds | Photo: Shutterstock

Reuters Washington
President Donald Trump wants to deny China some of the proceeds from the sale of ByteDance's US 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 US 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 US Treasury.
 
"I acknowledge that it's unusual. The president has his

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First Published: Aug 20 2020 | 7:53 AM IST

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