Unusual for any company that acquires TikTok to give funds to U.S. Treasury - White House aide

WASHINGTON (Reuters) - White House economic adviser Larry Kudlow said on Wednesday 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, but it would be unusual for any company that acquires TikTok to provide funds to the U.S. Treasury.

Reuters August 20, 2020 02:06:00 IST
Unusual for any company that acquires TikTok to give funds to U.S. Treasury - White House aide

Unusual for any company that acquires TikTok to give funds to US Treasury  White House aide

WASHINGTON (Reuters) - White House economic adviser Larry Kudlow said on Wednesday 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, 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 said I an interview with 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."

(Reporting by Tim Ahmann; Writing by Mohammad Zargham; Editing by Eric Beech)

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