China Rebuffs Trump Offer of Tariff Concessions if Beijing Agrees TikTok Deal

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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China Rebuffs Trump Offer of Tariff Concessions if Beijing Agrees TikTok Deal

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

China rebuffed on Thursday a suggestion from US President Donald Trump that he might offer to reduce tariffs on the country to get Beijing's approval for the sale of popular social media platform TikTok.

Trump said this month the United States was in talks with four groups interested in acquiring TikTok, with the app facing an uncertain future in the country, AFP said.

A US law has ordered TikTok to divest from its Chinese owner ByteDance or be banned in the United States, enacted over concerns that Beijing could exploit the video-sharing platform to spy on Americans or covertly influence US public opinion.

The law took effect on January 19, a day before Trump's inauguration, but he quickly announced a delay that has allowed it to continue to operate.

That delay is set to expire on April 5.

Trump told reporters at the White House on Wednesday that he could give China "a little reduction in tariffs or something to get it done".

"We're going to have a form of a deal," Trump said, adding that if it wasn't done in time, he would extend the deadline.

"China is going to have to play a role in that, possibly in the form of an approval and I think they'll do that."

Beijing swiftly rebuffed Trump's suggestion, with its foreign ministry saying that it has "repeatedly stated our position" on TikTok.

"The Chinese side's stance against imposing additional tariffs is also consistent and clear," foreign ministry spokesman Guo Jiakun said.

'People's Bid for TikTok'

Trump similarly attempted to ban TikTok in the United States on national security concerns during his first stint in the White House.

TikTok temporarily shut down in the United States in January and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.

Trump suspended its implementation for two-and-a-half months after beginning his second term on January 20, seeking a solution with Beijing.

TikTok subsequently restored service in the United States and returned to the Apple and Google app stores in February.

Artificial intelligence (AI) startup Perplexity recently expressed its interest in buying TikTok.

Perplexity laid out in a blog post a vision for integrating its AI-powered internet search capabilities with the popular video-snippet sharing app.

"Combining Perplexity's answer engine with TikTok's extensive video library would allow us to build the best search experience in the world," the San Francisco-based firm said.

Although TikTok does not appear overly motivated regarding the sale of the app, potential buyers include an initiative called "The People's Bid for TikTok", launched by real estate and sports tycoon Frank McCourt's Project Liberty initiative.

Others in the running are Microsoft, Oracle and a group that includes Internet personality MrBeast, whose real name is Jimmy Donaldson.

"Any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm, while any acquisition by a competitor would likely create a monopoly in the short form video and information space," Perplexity said in its post.

"All of society benefits when content feeds are liberated from the manipulations of foreign governments and globalist monopolists."



Saudi Central Bank Governor Says National Model Has Shielded Economy from Shocks

Saudi Central Bank Governor Ayman Alsayari. (International Monetary Fund)
Saudi Central Bank Governor Ayman Alsayari. (International Monetary Fund)
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Saudi Central Bank Governor Says National Model Has Shielded Economy from Shocks

Saudi Central Bank Governor Ayman Alsayari. (International Monetary Fund)
Saudi Central Bank Governor Ayman Alsayari. (International Monetary Fund)

Saudi Arabia’s economy has emerged as a model of resilience and crisis readiness, Central Bank Governor Ayman Alsayari said, citing steady progress under the Kingdom’s Vision 2030 reform agenda.

He stressed that continued implementation of the plan has helped protect the economy from regional shocks, underpinned by solid growth, contained inflation and prudent monetary and fiscal policies.

This strength, he noted, reflects decades of structural reforms and strategic investment in infrastructure and institutions, equipping the Kingdom with the capacity and flexibility to absorb shocks while sustaining investor and consumer confidence.

Addressing the International Monetary and Financial Committee of the International Monetary Fund, chaired by Saudi Finance Minister Mohammed Al-Jadaan, Alsayari highlighted the importance of Saudi Arabia’s diversified energy and trade infrastructure in maintaining supply flows under pressure.

He pointed to long-term investments such as the East-West pipeline, which runs to Red Sea ports in Yanbu, describing it as a vital artery for both Saudi exports and global energy supplies.

The ability to reroute exports and secure access to Red Sea ports and strategic facilities, he said, underscores the importance of long-term planning in preventing supply disruptions.

It also reinforces the need to treat energy security as integral to global financial stability, while avoiding policies that sideline the role of fossil fuels in sustaining trade and growth.

Alsayari warned that the war in the Middle East poses a serious test for the global economy and could revive conditions reminiscent of the stagflation era of the 1970s.

He welcomed progress on the “Diriyah Guiding Principles,” describing them as a milestone in efforts to reform IMF governance after nearly two decades of stagnation. The principles, reflecting the Diriyah Declaration, combine realism and ambition and provide a basis for strengthening the fund’s representation of the global economy.

Alsayari said that the step is essential to enabling the IMF to carry out its core functions in surveillance and lending, while keeping pace with technological shifts such as artificial intelligence and digital assets, and safeguarding the international monetary system against geopolitical risks and stagflation.

Saudi Arabia is translating its economic gains into tangible international support, including a $279 million pledge for IMF capacity development and the opening of a regional office in Riyadh to strengthen cooperation with countries in the region and beyond, Alsayari added.

He also cited platforms such as the AlUla Conference on Emerging Market Economies as tools to share expertise and advance reforms that support resilience and long-term growth.


IEA Proposes Building Iraq-Türkiye Pipeline to Bypass Hormuz

A general view of oil tanks at Türkiye's Mediterranean port of Ceyhan, February 19, 2014. (Reuters)
A general view of oil tanks at Türkiye's Mediterranean port of Ceyhan, February 19, 2014. (Reuters)
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IEA Proposes Building Iraq-Türkiye Pipeline to Bypass Hormuz

A general view of oil tanks at Türkiye's Mediterranean port of Ceyhan, February 19, 2014. (Reuters)
A general view of oil tanks at Türkiye's Mediterranean port of Ceyhan, February 19, 2014. (Reuters)

International Energy Agency Executive Director Fatih Birol proposed building a new oil pipeline linking Iraq’s Basra oil fields and Türkiye’s Mediterranean oil terminal in Ceyhan to bypass the Strait of Hormuz, according to Turkish newspaper Hürriyet.

“I believe a Basra-Ceyhan pipeline could be extremely attractive and a very important project for both Iraq and Türkiye, as well as for regional supply security, especially from Europe’s perspective,” Birol said in an interview with the newspaper.

“I also believe the financing issue can be overcome. Now is exactly the right time.”

He said, “The vase has been broken once, and it is very difficult to fix,” referring to the Strait of Hormuz.

A new oil pipeline “is a necessity for Iraq and an opportunity for Türkiye. It is also a major opportunity for Europe in terms of supply security. I think this should be considered a strategic project,” Birol added.

The war on Iran has disrupted shipping through the Strait of Hormuz, the strategic choke point through which 20% of the world’s oil supply flows, bringing global economic pain in the form of higher prices for gasoline, fertilizer and other staples.

Iraq and Türkiye share the Kirkuk-Ceyhan pipeline, a strategic corridor for transporting crude oil from northern Iraq to the Turkish port of Ceyhan, which began operation in 1976.

Iraq is seeking to rehabilitate the pipeline to overcome export problems, proposing to establish a new line from Basra to Ceyhan as a safe alternative to the Strait of Hormuz and to boost European energy security. On Sunday, Birol suggested building the new line.


Taiwan Business Group Urges Beijing, Taipei to Keep Politics Out of Trade

A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
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Taiwan Business Group Urges Beijing, Taipei to Keep Politics Out of Trade

A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)
A person looks at a stock market graph inside the Taiwan Stock Exchange in Taipei, Taiwan, 20 April 2026. (EPA)

The head of one of Taiwan's top business groups said on Monday both Beijing and Taipei should leave politics out of resuming normal trade and tourism exchanges, after China unveiled new incentives for the island.

China, which views democratically-governed Taiwan as its own territory, announced measures this month which include easing tourism curbs and food imports, but said they had to be based on "opposing Taiwan independence".

China refuses to talk to Taiwan President Lai ‌Ching-te saying he ‌is a "separatist", and has stepped up political and economic ‌pressure ⁠in recent years, ⁠targeting tourism and imports of food, as well as holding regular war drills.

"As soon as there is an opening up, it should be as much as possible be systematic and normalized to maintain the long-term stability of business and trade exchanges," said Paul Hsu, chairman of the General Chamber of Commerce.

Flanked by representatives of the tourist and food sectors, he ⁠urged China to ensure stability in trade ties ‌rather than sudden stops and starts, in ‌comments to reporters in Taipei.

No matter which political party runs a city ‌or county, China should offer equal treatment, especially in southern Taiwan, ‌Hsu added, referring to a stronghold of Lai's Democratic Progressive Party.

China's Taiwan Affairs Office did not immediately respond to a request for comment.

China's new steps came at the end of a visit to Beijing by Taiwan opposition leader Cheng Li-wun, ‌which she described as a journey of peace, on which she met President Xi Jinping.

Taiwan's government should ⁠also "proactively face" China's offers ⁠of opening up, Hsu's group, which represents more than a million companies, said in a statement accompanying the remarks.

Group members' votes would go to whoever was good for Taiwan industry, Hsu said, adding that he was representing non-partisan industry voices.

"As long as you put forth good policies, we will offer support. But if you stand against us, I'm sorry, I can't support you. We have a vote - we are a democratic society."

Taiwan will hold key local elections in November, with the next presidential vote scheduled for early 2028.

On Sunday, Taiwan's China-policy making Mainland Affairs Council said the government would address the "reasonable demands" of industry, but warned it not to "become tools manipulated and exploited by the Chinese communists".