1 week Ago By Duey Guison
After delaying the ban on TikTok by 75 days last January 21, US President Donald Trump extends the deadline by 75 days once again last April 4, citing that he needs to give the deal more time“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” Trump wrote. “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,” Trump said in his post on Truth Social.That means that the Trump has until June 20 to find a deal for TikTok in order to prevent it from being banned in the US.
In a report by CNN, there was a finalized deal last April 2, where ByteDance will have a 20% stake in the spinoff company and that the Executive Order could have started a 120-day period to work on the financing and paperwork. However, that did not push through after Trump announced an whopping 34% tariff on China. This caused representatives from ByteDance to pull out of the deal until negotiations are made regarding the tariffs.
While companies have expressed interest in buying or investing on TikTok, none of these deals satisfied ByteDance or the Chinese Government. And with Trump extending the deadline, it seems that TikTok’s fate in the US will remain in limbo for a while..
