Trump gives TikTok another 90-day extension of the sale-or-ban law
ByteDance, the Chinese owner of TikTok, must sell its U.S. operations by September to avoid the Biden-driven ban.
President Donald Trump extends the delay of the sale-or-ban law for TikTok for another 90 days. Karoline Leavitt, the White House press secretary, confirmed the president's willingness to extend the deadline in order to keep the social media platform up for the third time since the ban.
ByteDance, the Chinese owner of TikTok, must sell its U.S. operations to avoid the ban that was approved during Joe Biden's term earlier this year. The last pause was set to expire on June 19, but now it will last until September, with no specific date confirmed yet.
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Trump's changed his mind about TikTok
Since Trump took office for his second term, his position on TikTok has changed. The president initially tried to ban the social media platform. After using it, according to him, he changed his mind and started offering new extensions. Even Shou Zi Chew, TikTok's CEO, attended the president's inauguration.
Trump also talked about the ban on Air Force One to journalists, saying that he was considering approving the extension early today. "We will probably have to get China's approval, but I think we will get it. I think President Xi will eventually approve it (the sale)," he finally commented.
TikTok CEO, Shou Zi Chews, hasn't respond to the new extension and did not comment what kind of deal is looking for avoid the ban. Photo: Wired
Who wants to buy TikTok?
Donald Trump’s deal is looking for a 20% equity stake in ByteDance for a new spinoff company with the potential buyer. Some people interested in the deal include billionaire Shark Tank investor Kevin O'Leary, Jeff Bezos' Amazon, AI firm Perplexity, and YouTube star Jimmy Donaldson, known as MrBeast.
There has been no official response from Shou Zi Chew regarding the extension, and he did not comment on what offer TikTok is seeking. However, the new enforcement delay is asking for the status of the deal in order to secure the social media platform's long-term future in the U.S. Trump has not signed the order, but he will do so in the coming days.
