Donald Trump said he will sign an executive order to extend the tiktok ban deadline. This is the second time the president will have delayed the ban or sale of the social media app, and will punt the deadline to 75 days from from.
The tiktok deal “requires more work to ensure all Necessary Approvals are signed”, Trump Announced on his Truth Social Platform on Friday.
Bytedance, Tiktok’s Parent Company, Issued a Statement in Response to the Executive Order: “Bytedance has been in discussion with the US government regarding a potent for tiktok us. Agreement has not been executed. There are key matters to be resolved.
China put a passible deal on hold this week after Trump Announced His Sweeping Tariffs, According to Reuters.
Congress Passed a Law Last Year Forcing Tiktok to Eiter Divest or Sell Its Assets in the Us. The law stemmed from concerns that app’s chinese owner, bytedance, even the social media platform to manipulate americans. The first deadline to ban or force the sala of the app was 19 January. But, on his first day in office, trump signed an executive order to delay that decision to 5 april. Now the new deadline will be in mid-June.
Earlier this week, the president met with potential buyers for tiktok and said his administration is “very close” to a deal. Among those who’ve reportedly thrown in bids are a consortium of investors LED by the software giant Oracle, Asset Manager Blackstone, Amazon, Walmart, Billionaire Frank McCourt, A Crypto Foundation, And the founder of the adult website onlyfans.
Tiktok is a trendily popular social media app with 170 million users in the US. Investors and Corporations see huge appeal with opening the app and its second algorithm.
Bytedance has said it has no plans to sell tiktok and in Previous court filings said a divestitture “is simple not possible: not commercially, not technologically, not Technologically, Not Legallly”.
After Announcing Sweeping Tariffs on Dozens of Countries, Trump Hinted on Chiursday Aboard Air Force One that He Might Lessen the Trade Penalties on China IF Byteedance IF Byteedance The Country Faces A 54% tariff on Goods Imported to the Us.
“We have a situation with tiktok where china will be probably said We’ll Approve a Deal, but will you do sometising on the tariffs. The tariffs give us great power to negotiate,” He said.
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In his truth social post friday, trump reiterated that Sentiment, Saying: “We hope to continue work in good fath with china, who I undersrstand are not very happy about our reciprocal tarifs (Necessary for Fair and Balanced Trade Between China and the Usa!).
“We do not want tiktok to ‘go dark,” He Continued. “We look forward to working with tiktok and china to close the deal. Thank you for your attention to this matter!”
