Trump Extends TikTok Sale Deadline Amid Ongoing Bids
In a recent announcement via Truth Social on Friday, President Donald Trump revealed that he is extending the deadline for the sale of TikTok by an additional 75 days. This extension comes as the administration has been actively negotiating a deal that aims to save the popular video-sharing application.
Progress in Negotiations
“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” Trump stated in his post. He emphasized that more time is required to finalize all necessary approvals, prompting the issuance of an executive order to keep TikTok operational during the extended period.
Interest from Major Companies
As the negotiations continue, a variety of tech companies and wealthy individuals have shown significant interest in purchasing TikTok. Notably, Amazon and AppLovin have made separate bids recently, just ahead of the original Saturday deadline for ByteDance, TikTok’s parent company, to transition ownership to a U.S. entity.
Potential Leasing Deal on the Table
According to reports from ABC News, the Trump Administration is contemplating a leasing arrangement as an alternative to a full sale. This option would allow ByteDance to retain control of its algorithm while a U.S. firm holds a minority stake. Oracle is expected to manage this lease, given its existing role in providing technical support to TikTok.
Previous Offers and Legislative Background
The situation surrounding TikTok has evolved since April 2024, when U.S. lawmakers passed legislation to compel ByteDance to divest the app due to concerns over user data security. This law was a response to fears that Chinese authorities could access sensitive data from American users.
Subsequently, TikTok experienced a temporary suspension, affecting approximately 170 million U.S. users for one day until Trump’s executive order was enacted to extend the deadline. The previous deadline was set for April 5, which has now been pushed back by 75 days to facilitate a potential deal.
Expectations Moving Forward
Trump’s message concluded with an optimistic tone, expressing eagerness to collaborate with both TikTok and the Chinese government to finalize an agreement. “We look forward to working with TikTok and China to close the Deal,” he wrote, thanking stakeholders for their attention to the matter.
This story is still developing, and updates will be provided as new information arises.
