President Donald Trump has expanded the deadline for the Tiktok prohibition by 75 days. Trump shared a post on social social social Friday stating that he is signing an executive order to allow more time to complete a deal. The announcement comes just a day before keeping the ban.
“My administration is working very hard for a deal to save Tiktok, and we have made huge progress,” Trump wrote. “The deal requires more work to ensure that all necessary approvals have been signed, so I sign an executive order to keep Tiktok and run for an additional 75 days.”
Today’s announcement marks the second time Trump has expanded the deadline for the ban on Tiktok. ByTedance’s initial deadline for the sale of Tiktok’s US companies was January 19, according to a law signed by former President Joe Biden last year. However, Trump signed an executive order on his first day in his office to give the company 75 more days to make a deal.
Before signing the executive command, Tiktok was soon removed offline and removed from Apple and Google App stores before finally restored.
Bloomberg reports that Trump reviewed a sentence By a group of US investors, including Oracle, Blackstone and Andreessen Horowitz on Wednesday. The proposal is undoubtedly considered a top candidate for a possible agreement. Other interested parties include Amazon, Purplexity, billionaire Project Consortium Liberty by Frank McCourt, Walmart; ApplovinAnd many more.
It is worth noting that the Chinese government should approve any agreement before it is completed. In addition, ByTedance has proved no interest in selling Tiktok or reducing its share of the social network, as required by Tiktok’s ban.
The move comes a few days after the announcement of sweeping invoices, which imposed a 34% invoice on China. Trump has previously stated that it can Reduce invoices in China to facilitate a Tiktok agreement.
In his post, announcing the extension of the Tiktok ban, Trump said: “We hope to continue working in good faith with China, which I understand that they are not very happy with our mutual invoices (which is necessary for the US and the US).
In retaliation to invoices, China stated on Friday that it would do impose an invoice of 34% in imports of all US products.
