Late on Thursday, White House economic adviser Larry Kudlow said to the reporters that the ByteDance-owned Chinese small video sharing app might dissect itself from ByteDance in a bid to operate as an American company in context of another round of clattering conflict of interests between the trade-war struck world’s first- and second-largest economy, pointing towards a counterattack to Beijing a day after the Chinese Government of President Xi Jinping had heightened up taxes to 45 per cent from a prior 15 per cent for the Chinese mainlanders seeking job opportunities in the China-controlled island city of Hong Kong, a move that analysts said would likely to force a number of global lenders alongside other businesses to sway away from Hong Kong.
Aside from that, latest comment from the White House economic adviser Larry Kudlow came forth at a critical period for the Chinese small video sharing app, while it has been digesting sheer scrutiny over its likely tie-up with the Chinese Government, an allegation that the Chinese tech conglomerate ByteDance-owned TikTok had repeatedly denied.
India, the world’s fifth-largest economy, had banned TikTok alongside 59 other Chinese apps following a border clash with China last month, while the US Secretary of State Mike Pompeo had threatened the Chinese company to face off similar fates in the United States earlier this month.
Leaving ByteDance could offer a lifeline in TikTok’s race to survival, says Kudlow
Meanwhile, speaking to the reporters late on Thursday, adding an expected TikTok move to leave its parent organization ByteDance Technology Co., would be a much better option for the company instead of bracing for a US ban, the White House economic adviser Larry Kudlow said to the reporters, “We haven’t made final decisions but...I think TikTok is going to pull out of the holding company which is China-run and operate as an independent American company.
” Nonetheless, while being asked over the latest remarks from top White House officials, a TikTok spokesman was quoted saying that the company would not engage with market speculation.