Deadline Extended: TikTok Sale Delayed 75 Days as Trump Promises Cooperation with China

U.S. President Donald Trump has extended the deadline for ByteDance, the parent company of TikTok, to sell its U.S. assets by 75 days. This decision, influenced by the need for further approvals, shifts the original January 19 deadline under a 2024 law. Trump, expressing hopes for continued negotiations, acknowledged Chinese discontent over recent U.S. tariffs that now stand at 54%. He remains open to reducing these tariffs to finalize a TikTok deal, which currently has around 170 million American users.

Interactions with multiple groups regarding the sale are ongoing, though Trump has yet to disclose their identities. A significant issue remains: gaining approval from the Chinese government, which has not made a clear commitment to allow the sale, possibly signaling ongoing resistance. Trump’s administration is advocating for a plan that involves increasing stakes from major non-Chinese investors to bring ownership below the required 20% that U.S. law stipulates.

Several firms, including Susquehanna International Group and General Atlantic, are reportedly leading discussions with the White House. Walmart may also join as an investor. The plan aims to ensure TikTok’s operations in the U.S. continue without disruption, countering concerns about potential bans as bipartisan Congressional support for the divestiture persists. The landscape is complex, but success hinges on navigating the intricate relationship between U.S. and Chinese interests.