The deadline for the forced ban on TikTok in the United States has been postponed for 75 days. US President Donald Trump announced the signing of the relevant decree on his Truth Social page.
“My administration has been working very hard on a deal to save TikTok, and we have made tremendous progress. The deal requires more work to ensure that all necessary agreements are signed, so I am signing a decree to allow TikTok to continue operating for another 75 days,” he stated.
ByteDance representatives confirmed that they welcome the President`s decision and are ready to discuss the terms. However, they emphasized that any agreement must comply with Chinese law as well. According to Bloomberg, the main contender for the purchase is a consortium of several investors including Oracle, Blackstone, and Andreessen Horowitz. Amazon, Perplexity, Walmart, and other American corporations are also reportedly interested in acquiring the assets.
This is the second extension of the deadline from Trump. Initially, the authorities required ByteDance, TikTok`s parent company, to sell the video hosting service to an American owner by January 19th. Trump took office the next day and then issued a decree giving 75 days to complete the deal. Prior to this, TikTok was unavailable in the US for several days, and the application was removed from Google Play and the App Store.
Finley Holt