Trump once more extends TikTok's deadline, pursuing American ownership due to security apprehensions
In a recent development, President Donald Trump has extended the TikTok ban deadline in the U.S. until December 16, following the progress of a potential deal between the U.S. and China.
The executive order, signed on Tuesday, allows TikTok to remain available in the nation during the extended deadline. This is the fourth time Trump has bypassed federal law to prolong the deadline for TikTok to sell its assets to an American company or face a ban.
The possible buyers of TikTok mentioned by President Trump include tech giants such as Microsoft and Amazon, billionaire Frank McCourt, a consortium led by the OnlyFans founder, and ultimately a deal involving Oracle and partners was indicated, with negotiations aimed at transferring TikTok's US operations from ByteDance to American owners.
The executive order was issued a day after Treasury Secretary Scott Bessent announced a "framework for a TikTok deal" between the U.S. and China. The "certain" company Trump referred to in his social media post is likely TikTok, given the context.
Trump has implied that details about potential suitors for TikTok will be announced soon. It is worth noting that the original TikTok ban deadline was January 19 of this year.
In a recent post on Truth Social, Trump stated that a deal had been reached regarding a "certain" company, implying TikTok. The extension of the TikTok ban deadline has been announced by President Trump, ensuring that the popular social media app continues to operate in the U.S. for the time being.
The deal, if it materializes, would involve the sale of TikTok's assets to an American company, marking a significant shift in the ownership of the app. The progress of the negotiations and the identity of the successful bidder are eagerly awaited by users and stakeholders alike.
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