US President Donald Trump has given a second deadline for TikTok, owned by China-based ByteDance. According to the current law, TikTok’s operations in the US had to change hands or the application had to be completely banned in the country. However, the Trump administration extended the process again, giving an additional 75 days.
Donald Trump gave additional time for the sale of TikTok
In the negotiations for ByteDance to continue its activities in the US, the company’s change of hands continues to be on the table. TikTok’s potential buyers include names such as Amazon, Frank McCourt, Kevin O’Leary.
It has also been confirmed that Reddit founder Alexis Ohanian is among the bidders. Large investment companies Blackstone and Andreessen Horowitz also stand out among the buyers. However, no binding agreement has been reached with any party so far.
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As the negotiations were nearing the end, the Trump administration announced wide-ranging tax tariffs on China. This step directly affected a possible deal with ByteDance. ByteDance officials informed the White House that the Chinese government would not approve the deal until the tariffs issue was resolved.
The ByteDance spokesperson explained that the process is not yet complete and there are serious issues to be resolved. In response, Trump stated that the process should be prolonged and stated that they do not want TikTok to be closed.
The White House, which came to the fore with statements that TikTok could be banned completely in the first place, turned to the negotiation ground again with the second extended period. So what do you think about this issue? You can share your opinions with us in the comments section below.
