President Donald Trump on Thursday said he would consider a deal for TikTok where China agrees to approve the sale of the short video app owned by Byte Dance in exchange for relief from U.S. tariffs on Chinese imports.

Donald Trump’s decision to boost tariffs on almost every country will deal a blow to China’s economy. But it’s also handing Xi Jinping a rare opening to deepen relationships across the board, including with key US allies in Asia and beyond.

In a background call before Trump's speech, a senior White House official told reporters that the president would impose a "baseline" tariff on all imports to the US. That rate is set at 10% and will go into effect on 5 April.