Donald Trump: US Treasury should get cut of TikTok deal

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no-caption full-width lead"> <span class="image-and-copyright-container"> <img class="js-image-replace" alt="China and US flags around the TikTok logo." src="https://web.archive.org/web/20200804035338im_/https://ichef.bbci.co.uk/news/320/cpsprodpb/118DA/production/_113789817_tv062767125.jpg" width="976" height="549"> <span class="off-screen">Image copyright</span> <span class="story-image-copyright">Reuters</span> </span> </figure><p class="story-body__introduction">Donald Trump has said the US should get a cut from the sale of TikTok's US unit if it is bought by an American firm.</p><p>The US president said he made a demand for a "substantial portion" of the purchase price in a phone call at the weekend with Microsoft's boss.</p><p>He also warned he will ban the app, which is owned by China's ByteDance, on 15 September if there isn't a deal.</p><p>ByteDance is under pressure to sell its US business after Mr Trump threatened a crackdown on Chinese tech companies.</p><p>The Trump administration has accused TikTok and others of providing data to the Chinese government - which Beijing and TikTok deny.</p><div id="bbccom_mpu_1_2_3" class="bbccom_slot mpu-ad" aria-hidden="true"> <div class="bbccom_advert"> <script type="text/javascript"> /**/ (function() { if (window.bbcdotcom && bbcdotcom.adverts && bbcdotcom.adverts.slotAsync) { bbcdotcom.adverts.slotAsync('mpu', [1,2,3]); } })(); /**/ </script> </div> </div><p>"The United States should get a very large percentage of that price, because we're making it possible," Mr Trump said. </p><p>"It would come from the sale, which nobody else would be thinking about but me, but that's the way I think, and I think it's very fair," he added.</p><figure class="media-with-caption"> <div class="player-with-placeholder"> <img class="media-placeholder player-with-placeholder__image narrative-video-placeholder" src="https://web.archive.org/web/20200804035338im_/https://ichef.bbci.co.uk/images/ic/720x405/p070bbxx.jpg"> <div 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</div> <figcaption class="media-with-caption__caption"><span class="off-screen">Media caption</span>What is TikTok?</figcaption> </figure><p>The request for payment to the US Treasury further complicated negotiations as legal experts highlighted that such a demand to secure regulatory approval for a takeover deal would be highly unorthodox. </p><p>Nicholas Klein, a lawyer at DLA Piper, said generally "the government doesn't have the authority to take a cut of a private deal through" the Committee on Foreign Investment in the United States, which is the inter-agency committee that reviews some foreign investments in the US.</p><p>Talks over a potential deal looked to have been derailed on Friday when Mr Trump said he opposed Microsoft buying TikTok's US business.</p><p>While Mr Trump now giving his approval to a possible takeover is a major shift in the White House's position, the tight deadline for talks is another major hurdle for any potential deal.</p><p>TikTok's US operations "will close down on September 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal so the Treasury… of the United States gets a lot of money," he said.</p><ul class="story-body__unordered-list"> <li class="story-body__list-item"><a href="/web/20200804035338/https://www.bbc.co.uk/news/technology-53638645" class="story-body__link">Beyond TikTok: Who else might Trump ban?</a></li> <li class="story-body__list-item"><a href="/web/20200804035338/https://www.bbc.co.uk/news/technology-53621492" class="story-body__link">How would the US go about banning TikTok?</a></li> </ul><p><a href="https://web.archive.org/web/20200804035338/https://www.bbc.co.uk/news/business-53628108" class="story-body__link">Microsoft confirmed on Sunday in a blog post</a> that it would continue discussions on a potential deal with TikTok after a call between its chief executive Satya Nadella and Mr Trump.</p><p>The technology giant declined to comment further on the conversation between Mr Trump and Mr Nadella beyond Sunday's blog post.</p><p>Also on Sunday, US Secretary of State Mike Pompeo said President Trump would take action "in the coming days" against Chinese-owned software companies that he believed posed a national security risk.</p><p>Speaking to Fox News, Mr Pompeo also said that TikTok was among those "feeding data directly to the Chinese Communist Party".</p><p>Meanwhile, the state-run China Daily newspaper said on Tuesday that Beijing would not accept the "theft" of a Chinese technology company.</p><p>The state-backed paper also said in the editorial that China had "plenty of ways to respond if the administration carries out its planned smash and grab".</p><figure class="media-with-caption"> <div class="player-with-placeholder"> <img class="media-placeholder player-with-placeholder__image narrative-video-placeholder" src="https://web.archive.org/web/20200804035338im_/https://ichef.bbci.co.uk/images/ic/720x405/p08ksjbn.jpg"> <div 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</div> <figcaption class="media-with-caption__caption"><span class="off-screen">Media caption</span>Will TikTok be banned?</figcaption> </figure> </div> </div> <div id="topic-tags"><div id="u26328084664419293"><div class="tags-container"><h2 class="tags-title story-body__crosshead">Related Topics</h2><ul class="tags-list"><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/c255806071xt/tiktok">TikTok</a></li><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/cd39m6424jwt/china">China</a></li><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/cg56gy51g56t/mike-pompeo">Mike Pompeo</a></li><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/cp7r8vgl2lgt/donald-trump">Donald Trump</a></li><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/cx1m7zg01xyt/united-states">United States</a></li><li class="tags-list__tags" data-entityid="topic_link_bottom"><a href="/web/20200804035338/https://www.bbc.co.uk/news/topics/cvenzmgyg0lt/microsoft">Microsoft</a></li></ul></div></div></div> <div class="share share--lightweight show ghost-column"> <div id="share-tools"></div> <h2 class="share__title share__title--lightweight"> Share this story <a href="https://web.archive.org/web/20200804035338/http://www.bbc.co.uk/help/web/sharing.shtml">About sharing</a> </h2> <ul class="share__tools share__tools--lightweight"> <li class="share__tool share__tool--email"> <a href="https://web.archive.org/web/20200804035338/mailto:/?subject=Shared%20from%20BBC%20News&body=https%3A%2F%2Fwww.bbc.co.uk%2Fnews%2Fbusiness-53633315"> <span>Email</span> </a> </li> <li class="share__tool share__tool--facebook"> <a 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