President Donald Trump boasted that he would save the popular social media platform TikTok from a ban in the U.S. And that still could happen. However, according to those close to the talks, negotiations between the U.

Less than two weeks into his second term, President Trump is poised to deploy steep tariffs against key U.S. trading partners.

Trump has long proposed raising tariffs—or taxes on imported goods that the businesses importing them pay the U.S. government—before the election, and said in November he’ll impose a 25% tariff rate on all imports from Mexico and Canada on the first day of his presidency and will impose an additional 10% tariff rate on all imports from China on top of other tariffs.

TikTok’s Chinese owner is slow-rolling negotiations for a sale, as the Trump administration seeks to broker a deal.