Washington D.C. - President Donald Trump announced on Friday that he is extending the deadline for TikTok to secure a deal with a non-Chinese owner. ByteDance, the China-based company that owns TikTok, now has an additional 75 days to finalize an agreement or face a potential ban in the United States.
Trump stated that "tremendous progress" has been made in the ongoing negotiations, prompting his decision to grant the extension. The U.S. government has raised concerns about the potential for TikTok to share user data with the Chinese government, citing national security risks. The extension provides more time for TikTok and potential buyers to reach a deal that addresses these concerns.
Several companies have been rumored to be interested in acquiring TikTok's U.S. operations, including Oracle and Walmart. The deal must satisfy the U.S. government's requirements regarding data security and national security to avoid a ban. The extended deadline underscores the complexity and importance of the negotiations surrounding the future of TikTok in the United States.
TikTok Deal Deadline Extended 75 Days by Trump
President Trump has granted TikTok's parent company, ByteDance, a 75-day extension to finalize a deal with a non-Chinese buyer. This move delays the potential ban of the popular video-sharing app in the United States. Trump cited "tremendous progress" in negotiations as the reason for the extension. The extended deadline aims to give the parties more time to reach an agreement that satisfies U.S. security concerns.
Source: Read the original article at NBC