President Trump announced a second extension for TikTok to either sell its US operations or face a ban, urging cooperation to finalize a sale. The app, which has a substantial user base in America, remains under scrutiny for privacy and national security threats linked to its Chinese ownership.
Trump Grants Second Extension for TikTok's US Operations Amid Ownership Negotiations
Trump Grants Second Extension for TikTok's US Operations Amid Ownership Negotiations
The Trump administration has provided TikTok a further 75-day extension to resolve ownership issues, as discussions with potential buyers and Chinese regulatory concerns continue.
US President Donald Trump has issued a new 75-day extension to TikTok, allowing the popular social media platform additional time to either sell its US operations or face closure. In a post on Truth Social, Trump expressed his intention to keep the platform operational, stating, "We do not want TikTok to 'go dark'." The company, owned by Chinese tech giant ByteDance, faces significant pressure from a law enacted by Congress that mandates it must divest its American operations.
This extension is the second of its kind since Trump's presidency began in January, with the initial deadline set to expire imminently. TikTok claims it has over 170 million users in the United States, emphasizing its significance in the social media landscape. A spokesperson for ByteDance confirmed ongoing discussions with the Trump administration but noted that no formal agreement has yet been established, citing unresolved issues and the requirement for approval under Chinese law.
Concerns over TikTok's potential use as a surveillance and propaganda tool by the Chinese government have led to bipartisan support in Congress for measures to curb its operations in the US. The legislation passed last year granted ByteDance a six-month window to find a buyer, else face a block from operating in American markets. Critics of a TikTok ban argue that such actions infringe on freedom of speech and expression.
As the Trump administration seeks to navigate these complex negotiations, reports indicate that a deal was close to being finalized but fell through after Trump announced sweeping tariffs on Chinese imports. Following these tariffs, negotiations became complicated, leading to potential buyers reevaluating their positions concerning the acquisition of TikTok.
Among the reported contenders interested in acquiring TikTok are Amazon, billionaire Frank McCourt, venture capitalist Kevin O'Leary, and Alexis Ohanian, a co-founder of Reddit. Other parties, such as Microsoft, private equity firm Blackstone, and venture capital firm Andreessen Horowitz, are also vying for a stake in the platform.
Vice-President JD Vance is overseeing efforts by the Trump administration to facilitate a successful acquisition. Trump has suggested that a possible resolution could involve China approving the sale of TikTok in exchange for the retraction of US tariffs on Chinese goods, characterizing tariffs as a significant economic instrument critical for national security.
