Donald Trump Extends TikTok Sale Deadline Once More: 75 More Days and Still "Tremendous Progress"
- Trump delays TikTok sale deadline by an additional 75 days
Are we in for a long game with TikTok? Despite being mere days away from the inauguration of a new U.S. President, the fate of this popular video platform still hangs in the balance. The initial U.S. law mandating the sale of TikTok's parent company, ByteDance, came into effect back in January. However, concerns over potential spying by the Chinese company have kept the platform under the microscope.
Donald Trump, the outgoing President, didn't waste any time suspending the app from U.S. app stores upon taking office — but only for 75 days. That deadline passed in the small hours of Saturday. And now, Trump has decided to give TikTok another reprieve, extending the deadline by another 75 days. According to White House sources, this decision comes following "tremendous progress" in the ongoing negotiations.
Remember, potential buyers like Oracle, Amazon, Walmart, and investment firms such as Blackrock have thrown their hats into the ring, eager to come to terms with ByteDance. Yet, despite the interest, negotiations haven't been without their challenges. Recent U.S. tariffs on China have complicated matters, with Beijing insisting on broader trade discussions before any deal is approved.
Moreover, the potential sale must also abide by U.S. law and ensure that the Chinese government doesn't gain access to U.S. user data. In other words, it's a fine line between national security concerns and fostering a profitable deal.
Plans are underway to transform TikTok into a U.S.-based company, with majority American ownership, while ByteDance maintains a minority stake. However, there are still regulatory hurdles to overcome, including Chinese law's need for approval under export controls on TikTok's valuable algorithm.
So, hasn't this just become a never-ending saga? Let's see where things stand in 75 more days. Stay tuned!
- TikTok
- Donald Trump
- ByteDance Ltd.
- Online Platform
- United States
- Trade Tariffs
- National Security Concerns
- Investors
- Oracle
- Amazon
- Walmart
- Blackrock
- U.S. President
- Parent Company
- The Commission, citing Article 93 (2) of the Treaty, has decided to initiate the procedure, potentially affecting TikTok, as the U.S. President's extension of the sale deadline for TikTok's parent company, ByteDance, continues to unfold.
- Despite the ongoing tug-of-war between TikTok and the U.S. administration, internationally renowned investors like Oracle, Amazon, Walmart, and Blackrock have shown keen interest in acquiring parts of ByteDance, eager to navigate the complex landscape of national security concerns and trade tariffs.
- As the deadline for the sale of ByteDance approaches once again in the United States, discussions about TikTok's transformation into a U.S.-based company with majority American ownership persist, adding a new layer of intrigue to the saga that began back in January.
