President Trump on Friday signed an executive order extending the deadline for TikTok’s Chinese parent company to sell its United States operations for a second time, saying that the acquisition “requires more work to ensure all necessary approvals are signed.”
“We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal. Thank you for your attention to this matter!” Trump said on Truth Social.
Had Trump not granted an extension to ByteDance, the Chinese-owned parent company of TikTok would have been required to carry out a “qualified divesture” of its United States business per a law signed by former President Joe Biden in April 2024, with internet service providers and app stores prohibited from hosting the platform.
The app, used by over 170 million Americans, has faced scrutiny from lawmakers on both sides of the aisle amid growing concerns about China’s technological influence and data collection capabilities.
Biden’s law went into effect on January 19, with Apple and Google removing TikTok from their respective app stores until Trump extended the deadline by 75 days on January 20 when he took office.
According to CNBC, several major American tech companies have expressed interest in acquiring TikTok’s United States operations, including Oracle, AppLovin, and a consortium of private capital firms like Andreessen Horowitz and Blackstone. Amazon has also reportedly made a last-second bid to purchase the social media platform.
Despite interest from American companies, any deal still requires approval from the Chinese Communist Party, adding complexity to negotiations.
The announcement came just days after Trump announced his “Liberation Day” tariffs, imposing a 34% tariff rate on China, which, combined with existing tariffs, creates a total rate of 54% on all imports from one of America’s largest trading partners.
Trump appears wary of the impact tariffs might have on the CCP’s willingness to approve a TikTok deal, insisting that China continue to negotiate in “good faith” despite the hefty tariffs.
“We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs (Necessary for Fair and Balanced Trade between China and the U.S.A.!).”
The president has also indicated he might consider reducing China’s tariffs to facilitate a TikTok deal.
“Maybe I’ll give [China] a little reduction in tariffs or something to get it done,” Trump said in late March, “TikTok is big, but every point in tariffs is worth more than TikTok.”
