US President Donald Trump on Friday extended the deadline for TikTok to find a non-Chinese buyer or face a ban in the United States, granting an additional 75 days to resolve the issue.
In a statement on Truth Social, Trump said, “My administration has been working very hard on a deal to save TikTok, and we have made tremendous progress.” He explained that more work was needed to secure all necessary approvals, prompting him to sign an Executive Order allowing TikTok to remain operational for another 75 days.
The popular video-sharing app, with over 170 million users in the US, faces pressure from a US law passed last year that mandates TikTok must separate from its Chinese parent company, ByteDance, or face a shutdown in the country.
Trump has stated that a deal to find a buyer for TikTok is near, involving multiple investors, although he has provided few details. The decision to push for a ban was driven by national security concerns, with Washington believing that the Chinese government controls TikTok. The ban was originally set to take effect on January 19, the day before Trump’s inauguration. However, the ban was delayed by 75 days, and TikTok resumed service in February.
The new extension pushes the deadline to June 19, giving more time for negotiations. Trump remains optimistic about finding a buyer, expressing confidence that TikTok’s US operations will be saved.
Trump also noted that he would continue working with China, as the Chinese government must approve the transaction. He suggested that the TikTok deal could be part of a broader negotiation with China to ease the tariffs he had imposed during his presidency.
Reports indicate that the deal under discussion would see US investors in ByteDance roll over their stakes into a new independent TikTok company, with additional investors such as Oracle and Blackstone involved to reduce ByteDance’s share. Oracle, which hosts much of TikTok’s US operations, has a close relationship with Trump.
Walmart has also been mentioned as a potential partner in the deal, alongside Oracle, as both were previously rumored to be involved in TikTok negotiations during Trump’s first term. While Trump had initially supported a ban or divestment, he has recently become a defender of TikTok, seeing its popularity among younger voters as a factor in the 2020 election.
Despite the progress, questions remain about what would happen to TikTok’s valuable algorithm, a key part of its success. Experts warn that without its algorithm, TikTok would lose much of its power. Some reports suggest the new company may license the algorithm from ByteDance, though such a move could contradict the law’s intent, which seeks to limit Chinese influence over the app’s operations in the US.
Other companies, including Amazon, have reportedly made late bids for TikTok, while Frank McCourt’s Project Liberty and AI startup Perplexity have expressed interest in acquiring the platform. Additionally, YouTube star MrBeast and adult content platform OnlyFans have also been mentioned in connection with potential bids.