U.S. President Donald Trump on Thursday signaled a potential end to the tit-for-tat tariff hikes between the U.S. and China that shocked markets, and that a deal over the fate of social media platform TikTok may have to wait.

The White House’s effort to force a divestiture of TikTok’s US operations has reportedly collapsed, at least for now, after Beijing refused to approve a proposed deal. The abrupt reversal results from a tariff-for-tariff standoff between Beijing and Washington,

President Trump’s new tariffs on China have thrown a wrench in efforts to negotiate a deal over TikTok’s divestment from its parent company ByteDance, as Washington and Beijing sink deeper into a