US President Donald Trump has granted TikTok a second 75-day extension to comply with a law that requires the hugely popular video app to either sell its US operation or face a ban in the country. "We do not want TikTok to 'go dark'," Trump wrote on Truth Social. "We look forward to working with TikTok and China to close the Deal." The platform is currently owned by Chinese company ByteDance. Trump's first extension was granted after he took office in January and was set to expire on Saturday. The social media platform, which says it has more than 170 million users in the US, must close in the US under a law passed by Congress - unless a buyer is found. In a statement on Friday, ByteDance said it had been in discussion with the Trump administration, but "an agreement has not been executed". "There are key matters to be resolved. Any agreement will be subject to approval under Chinese law," a spokesperson said. Former US President Joe Biden's administration had argued that TikTok could be used by China as a tool for spying and political manipulation. Congress passed a bipartisan law last year that gave ByteDance six months to sell its controlling stake in TikTok or see the app blocked in the US. Opponents of a ban have cited freedom of speech as a reason for keeping the platform open. The new extension comes as the Trump administration tries to broker a deal to bring the social media platform under American ownership, and keep the popular app running in the US. "The Deal requires more work to ensure all necessary approvals are signed," Trump wrote on his Truth Social platform on Friday. A TikTok deal was reportedly nearly finalised on Wednesday, but fell apart after Trump on the same day announced sweeping global tariffs, including on China. ByteDance representatives contacted the White House to inform them China would no longer approve the deal unless negotiations on the tariffs could take place, a source familiar with the deal told CBS News, the BBC's US partner. The unnamed source said the plan had been for Trump to sign an order initiating a 120-day period for closing the deal, allowing time to finish paperwork and secure financing. The agreement had won approval from existing investors, new investors, ByteDance, and the US government, but China backed out once Trump imposed the global import taxes, CBS reports. The Chinese embassy in Washington DC said in a statement that it "opposed practices that violate the basic principles of the market economy". China faces a 54% aggregate tariff on goods imported into the US, and has retaliated with 34% in counter tariffs. Reports suggest several potential buyers for TikTok have cropped up in recent days. Amazon has put in a last-minute offer to the White House to acquire the platform, according to the BBC's US partner CBS, though the firm has declined comment. Several other potential buyers include billionaire Frank McCourt, together with Canadian businessman Kevin O'Leary. Alexis Ohanian, who co-founded Reddit, has said he has joined Mr McCourt's bid. Computing giant Microsoft, private equity giant Blackstone, venture capital firm Andreessen Horowitz and search engine Perplexity AI are also reportedly in the running for a stake. Trump has said his administration was in touch with four separate groups interested in a potential TikTok deal, though he has not named them. Vice-President JD Vance is spearheading the administration's effort to find a buyer. The president has also suggested the US could offer a deal where China agrees to approve a TikTok sale in exchange for relief from US tariffs on Chinese imports. "We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs," Trump wrote on Truth Social. He added that the trade levies are "the most powerful economic tool, and every important to our national security".
Trump extends deadline to keep TikTok running in US
TruthLens AI Suggested Headline:
"Trump Grants TikTok Additional 75-Day Extension Amid Sale Negotiations"
Bbc News
7.8
TruthLens AI Summary
US President Donald Trump has granted TikTok a second 75-day extension to comply with a law that mandates the popular video app to either divest its US operations or face a ban in the country. Trump stated on his Truth Social platform that he does not want TikTok to 'go dark' and expressed a desire to work with both TikTok and China to finalize a deal. The platform, owned by the Chinese company ByteDance, has over 170 million users in the US, and Congress passed a bipartisan law last year that requires ByteDance to sell its controlling stake in TikTok within a six-month timeframe or face a shutdown. Despite discussions between ByteDance and the Trump administration, a formal agreement has yet to be reached, with ByteDance indicating that key matters remain unresolved and that any agreement would need approval under Chinese law. The urgency to find a buyer has intensified as the deadline looms, with the Trump administration actively seeking to maintain the app's presence in the US market.
Recent developments indicate that a deal for TikTok was almost finalized but fell apart due to the announcement of sweeping global tariffs by Trump, particularly affecting China. This prompted ByteDance representatives to communicate that China would not approve the deal unless tariff negotiations occurred. The administration had planned to initiate a 120-day period for closing the deal, which had garnered support from existing and new investors, but the sudden imposition of tariffs led to a breakdown in negotiations. Several potential buyers, including Amazon, Microsoft, and other prominent investors, have emerged in the bidding process. Trump has also suggested that the US might consider a deal where China would approve the TikTok sale in exchange for relief from tariffs. This ongoing situation highlights the complexities of international trade and national security, as both the US and China navigate economic pressures and diplomatic relations regarding the app's future in the American market.
TruthLens AI Analysis
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