Trump says TikTok sale can go through but only if the US gets a cut

US President, Donald Trump said he would allow an American company to acquire the short-form video app — with a catch.

Trump on Monday set September 15 as the deadline for TikTok to find a US buyer, failing which he said he will shut down the app in the country. 

In an unusual declaration, Trump also said any deal would have to include a "substantial amount of money" coming to the US Treasury.

Right now they don't have any rights unless we give it to them. So if we're going to give them the rights, then ... it has to come into this country, Trump said.

It's a great asset, but it's not a great asset in the United States unless they have approval in the United States.

Asked in a subsequent press briefing whether the money for the Treasury should come from Microsoft — which is pursuing a purchase of TikTok — or TikTok's Chinese parent ByteDance, Trump said the US should get a significant portion of the deal "either way."

Whether it's Microsoft or somebody else, or if it's the Chinese — what the price is, the United States could — should get a very large percentage of that price. Because we're making it possible, he said.

Trump described his proposal as being similar to a lease between a landlord and a tenant, adding that TikTok owes the US for its success.