Credited from: REUTERS
The Trump administration is poised to grant another extension to the September 17 deadline for China's ByteDance to divest its U.S. assets related to the popular app TikTok, sources familiar with the matter have indicated. If confirmed, this would be the fourth postponement since a law mandated that ByteDance sell or shut down TikTok. Originally, ByteDance had a deadline extending to January 2025 to comply with these requirements, according to Reuters and Newsweek.
President Trump has mentioned having U.S. buyers ready for TikTok, yet during recent discussions, he seemed uncertain about the app's future, stating, "I may or may not, we're negotiating TikTok right now." His remarks have raised questions among lawmakers who require the app's sale but also highlight his interest in maintaining its presence due to its popularity among 170 million Americans, according to India Times and Reuters.
Concerns about TikTok center on its potential use by Beijing for surveillance and censorship, which has fueled a bipartisan push within Congress to facilitate a divestment. However, negotiations have faced significant challenges, especially regarding the proprietary algorithm that any U.S. buyer would need to access. Approval from Chinese authorities is necessary to proceed with the sale, which has stalled progress, according to Newsweek.
Simultaneously, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are engaging in trade talks with Chinese officials in Spain, where TikTok has been included in discussions for the first time in recent negotiations. While this provides some political cover for another extension, it remains unclear whether an agreement will be reached before the deadline of September 17, as outlined by Reuters and India Times.