Some late-Friday news which speaks to US-China relations.
If you’ve been following along US-China relations continue to deteriorate, the latest being talks between the two countries on trade scheduled to take place this weekend were … ‘delayed’:
Back to TikTok. Trump’s previous executive order set out to prohibit any US people or firms from doing business with TikTok effective 45 days from August 6.
Now he has set a 90-day deadline for a possible sale of TikTok to a US buyer (with scope to extend for up to 30 days under certain conditions). The order also requires ByteDance and associated entities to divest and destroy any data obtained or derived from TikTok or Musical.ly app users in the US.
We’ll soon see if this has any market impact at the Monday open. Which is still quite a while away. I suspect it does not have much impact but wanted to keep in the loop.
In other Trump-related news, reports re his younger brother has been admitted to hospital in NY. The detail of his condition has not been disclosed but US media say he is seriously ill. We wish the man a speedy recovery.