Donald Trump has postponed the TikTok ban in the U.S., granting the company more time to sell its stakes in the American market.
He announced that he would sign an executive order extending the shutdown of the TikTok platform in the U.S. for another 75 days. This decision provides more time for the U.S. administration to find a new American owner.
The order was announced as White House officials believed they were close to a deal that would allow U.S. businesses to acquire a portion of TikTok’s shares. The current owners of TikTok would retain a small share.
However, it seems the deal fell apart at the last minute. TikTok representatives contacted the White House on Thursday to inform them that China would no longer approve the agreement after Trump ordered tariffs against the Chinese government.
The U.S. Congress had demanded that the platform be disconnected from China by January 19 or banned in the U.S. for national security reasons. However, Trump acted unilaterally, extending the deadline until April 5, in an effort to negotiate a deal to keep TikTok operational.
Recently, Trump had considered several offers from U.S. businesses seeking to purchase parts of this popular social media platform.
A TikTok spokesperson confirmed in a statement that the company has been discussing a “possible solution” with the U.S. government but emphasized that “no agreement has been signed yet.”
