Donald Trump announced he will extend the deadline for a TikTok ban or the sale of the app by 75 days. This marks the second delay, allowing more time for potential buyers and necessary approvals. While investors express interest, ByteDance asserts it has no immediate plans to sell, citing commercial and legal hurdles. The growing concerns over national security influence this ongoing negotiation, as Congress previously mandated a divestiture due to fears regarding ByteDance’s Chinese ownership. Trump's administration is seemingly close to a deal, but obstacles remain.
The TikTok deal requires more work to ensure all necessary approvals are signed, and while there have been discussions, an agreement has not yet been executed.
ByteDance, TikTok's parent company, stated that while discussions with the U.S. Government are ongoing, key matters remain unresolved, affecting the potential agreement significantly.
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