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Trump Seeks TikTok Payment to U.S., Despite No Clear Authority

  • Trump says either China or a U.S. buyer would have to pay
  • ‘That’s the way I think,’ Trump says of the fee he’s demanding
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Watch: President Donald Trump said TikTok will have to close in the U.S. by Sept. 15 -- unless there’s a deal to sell the social network’s domestic operations to Microsoft Corp. or another U.S. company.(Source: Bloomberg)

President Donald Trump repeatedly insisted on Monday that any sale of TikTok’s U.S. operations would have to include a substantial payment to the U.S. -- but it wasn’t clear under what authority he can extract a payout.

It would be unprecedented, based on recent history, for the U.S. government to collect a cut of a transaction involving companies in which it doesn’t hold a stake. Trump said the money would come from China or an American buyer such as Microsoft Corp.