US President Donald Trump has granted Tiktok a second 75 -day extension to comply with an extremely popular video application to sell his American operation or cope with a ban in the country.
“We do not want Tiktok ‘to dark,’ ‘wrote Trump on Truth Social.” We look forward to working with Tiktok and China to conclude the agreement. “The platform is currently belonging to Chinese company bytedance.
Trump’s first extension was granted after entering into office in January and is expected to expire on Saturday.
The social media platform, which indicates that it has more than 170 million users in the United States, must close in the United States under a law adopted by the Congress-unless a buyer is found.
On Friday, in a statement, Bytedance said that he was in discussion with the Trump administration, but “an agreement was not executed”.
“There are key questions to be resolved. Any agreement will be subject to approval under Chinese law,” said a spokesperson.
The administration of former American president Joe Biden had argued that Tiktok could be used by China as a tool for spying and political manipulation.
The congress adopted a bipartite law last year which gave bytedance six months to sell its control participation in Tiktok or see the application blocked in the United States.
Opponents of a ban cited freedom of expression as a reason to keep the platform open.
The new extension comes as the Trump administration is trying to negotiate an agreement to put the social media platform under American property and maintain popular app in the United States.
“The agreement requires more work to ensure that all the necessary approvals are signed,” Trump wrote on his Truth social platform on Friday.
A tiktok agreement would have been almost finalized on Wednesday, but collapsed after Trump on the same day announced world scanning prices, including China.
The representatives of Bytedance contacted the White House to inform them that China would no longer approve of the agreement unless negotiations on the prices can take place, a familiar source with the agreement told CBS News, the American partner of the BBC.
The anonymous source said that the plan had been that Trump would sign an order initiating a period of 120 days to conclude the agreement, allowing time to complete the documents and obtain funding.
The agreement had obtained the approval of existing investors, new investors, bydance and the US government, but China has retained once Trump has imposed taxes on global importation, reports CBS.
China faces a global rate of 54% on goods imported into the United States and retaliated with 34% counter-tale.
The reports suggest that several potential buyers for Tiktok have arisen in recent days.
Amazon made a last minute offer to the White House to acquire the platform, according to the American partner of the BBC CBS, although the company refused to comment.
Several other potential buyers include billionaire Frank McCourt, with Canadian businessman Kevin O’Leary. Alexis Ohanian, who co -founded Reddit, said that he had joined Mr. McCourt’s offer.
The computer giant Microsoft, the Blackstone Investment Giant, the venture capital company Andreessen Horowitz and the Perplexity AI search engine would also be in the running for a stake.
Trump said his administration was in contact with four separate groups interested in a potential tiktok agreement, although he did not name them.
Vice-president JD Vance is the spearhead of the administration effort to find a buyer.
The president also suggested that the United States could offer an agreement where China agrees to approve a sale of Tiktok in exchange for relief from American prices on Chinese imports.
“We hope to continue working in good faith with China, which I understand are not very happy with our reciprocal prices,” wrote Trump on Truth Social.
He added that commercial direct debits are “the most powerful economic tool, and all the important ones for our national security”.
