DAYLIGHT ROBBERY

China Accuses U.S. of ‘Smash and Grab’ Raid After Trump Demands Slice of TikTok Sale

The president said a U.S. company can buy the app as long as a “substantial amount of money” comes to the U.S. Treasury.

Chinese state media has accused the United States of attempted robbery after President Donald Trump said his government should get a substantial slice of TikTok’s sale price. Trump had threatened to close down TikTok—which is owned by Bejing-based tech firm ByteDance—but has since said he would be open to allowing a U.S. company to buy the app so long as the deal includes a “substantial amount of money” coming to the U.S. Treasury. Microsoft has emerged as the front-runner for the potential purchase. CNN reports that the state-run newspaper China Daily described the potential sale as a “smash and grab” raid orchestrated by the Trump administration, adding: “China will by no means accept the ‘theft’ of a Chinese technology company.” Liu Hong, deputy editor in chief for the state-owned Globe magazine, described the U.S. approach to TikTok as “nasty” and accused Trump of carrying out a “power grab.”