Trump offers TikTok another 75 days to find US buyer
What's the story
US President Donald Trump has decided to extend the deadline for a potential TikTok ban in the country by another 75 days. The announcement came via a post on Truth Social, where Trump said his administration is making great progress toward a deal to "SAVE TIKTOK." He stressed that more time is required to ensure all necessary approvals are signed.
Previous extensions
Second extension on possible ban
Notably, this isn't the first time Trump has pushed back TikTok's potential ban. The original deadline was set by a law signed last year by former president Joe Biden, which required TikTok parent ByteDance to sell its US operations by January 19. However, on his first day in office, Trump signed an executive order giving the company another 75 days to finalize a deal.
Potential buyers
US investors show interest in TikTok deal
Trump recently reviewed a proposal from a group of US investors, which included Oracle and Blackstone, to buy TikTok. Others in the fray include Amazon, Walmart, AppLovin and billionaire Frank McCourt's Project Liberty consortium. However, any deal would need a nod from the Chinese government.
Tariff implications
Trump hopes for a deal with China
In his post about delaying the TikTok ban, Trump hoped to continue working in good faith with China. He said China isn't happy about the reciprocal tariffs imposed on them, but he believes these tariffs are crucial for US national security. The move comes just days after Trump announced sweeping tariffs, including a 34% tariff rate on China.
Ongoing negotiations
ByteDance confirms talks with US government
ByteDance has confirmed that it is in talks with the US government to find a solution. However, they warned that there are still "key matters" to resolve before an agreement can be reached. The company said that no deal has been executed yet and any decision would be subject to approval under Chinese law.