A deal had been in the works this spring that would spin off TikTok's U.S. operations into a new U.S.-based firm, majority-owned and operated by U.S. investors. This stalled after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods.

A deal had been in the works this spring that would spin off TikTok’s U.S. operations into a new U.S.-based firm, majority-owned and operated by

WASHINGTON, July 20 (Reuters) - U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in. Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement.