Trump Admin Demands Fee for TikTok Deal
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The Trump administration is reportedly demanding a substantial one-time fee from American investors acquiring TikTok's U.S. operations. This unusual demand, in the low billions, is seen by some as the 'price of doing business' and an emerging trend of the White House extracting cash from private deals. Similar arrangements have occurred with chipmakers and steel companies. Experts criticize these actions as 'rent-seeking' and potentially hindering innovation, while the administration views them as beneficial for the U.S.
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