President Donald Trump announced that he would sign an executive order to extend the deadline for China’s divestment of TikTok by 75 days.
“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,” Trump wrote on Truth Social. “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!”
The statement follows China announcing retaliatory tariffs on the United States.
“We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal,” he said. “Thank you for your attention to this matter!”
“We’re working on TikTok,” Trump told reporters last week. “We have a lot of potential buyers. There’s tremendous interest in TikTok.”
“We’re dealing with China also on it because they may have something to do with it. And we’ll see how that goes,” Trump added. “But it’s something I think you’re going to have, I’d like to see TikTok remain alive.”
According to The New York Times, a potential deal for the social media app “could involve bringing on a number of new U.S. investors, including Oracle, the technology giant, and Blackstone, the private equity firm, while sidestepping a formal sale.”
