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, 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 U.S. 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 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,” Kudlow added.
More at the link above. Seems to me the US is not a democracy but a banana republic where the rule gets his cut, just like in Russia where all companies give Putin a cut. The oligarchs get more and more of the country’s wealth, but the people get poorer and worse off. Hugs