Trump Prolongs TikTok Ban Deadline: 75-Day Extension Announced!
In a significant development regarding the popular social media platform, President Donald Trump has announced a 75-day extension for the TikTok ban. This decision comes just before the previously set deadline, allowing more time for negotiations over the app’s future in the United States.
Trump’s Executive Order for TikTok
On Friday, Trump shared his news on Truth Social, stating that he is signing an executive order aimed at providing additional time to finalize a deal. He emphasized the progress made in negotiations, saying:
“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 all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days.”
Timeline of TikTok’s U.S. Operations
This marks the second extension granted by Trump concerning the TikTok ban. Previously, the original deadline set for ByteDance to divest its U.S. operations was January 19, as mandated by a law enacted by former President Joe Biden. Trump had initially extended this deadline by 75 days on his first day in office.
Recent Developments
Before the executive order was signed, TikTok faced temporary removal from the Apple and Google app stores, highlighting the urgency of the situation. According to Bloomberg, Trump reviewed a proposal from a consortium of U.S. investors, which includes notable names like Oracle, Blackstone, and Andreessen Horowitz. This proposal is viewed as a leading candidate for a potential agreement.
- Other interested parties include:
- Amazon
- Perplexity
- Billionaire Frank McCourt’s Project Liberty consortium
- Walmart
- AppLovin
Chinese Government Approval Required
It’s crucial to note that any deal to save TikTok would require approval from the Chinese government. Moreover, ByteDance has shown reluctance to sell TikTok or diminish its stake in the app, as stipulated by the TikTok ban law.
Tariff Implications
This announcement follows Trump’s recent imposition of sweeping tariffs, which includes a 34% tariff rate on imports from China. Trump has suggested that he might consider reducing these tariffs to facilitate a TikTok deal.
In his statement regarding the TikTok ban extension, Trump expressed:
“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.!). This proves that Tariffs are the most powerful Economic tool, and very important to our National Security! 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!”
In response to the tariffs, China has announced plans to impose a 34% tariff on all U.S. imports, escalating trade tensions further.
For more insights on the impact of tariffs and international trade relations, visit our Trade Relations page.
