WASHINGTON, D.C. – U.S. President Donald Trump has granted TikTok a second 75-day extension to comply with a new federal law requiring the popular video-sharing platform to sell its U.S. operations or face a ban.
“We do not want TikTok to ‘go dark’,” Trump wrote Friday on his Truth Social platform. “We look forward to working with TikTok and China to close the deal.”
The app, owned by Chinese tech firm ByteDance, has more than 170 million users in the United States.
Under bipartisan legislation passed last year, ByteDance must divest its U.S. assets or risk being shut out of the American market.
Trump’s first extension was granted after he took office in January and was due to expire Saturday.
ByteDance confirmed ongoing discussions with the Trump administration but said no deal had been finalized.
“There are key matters to be resolved. Any agreement will be subject to approval under Chinese law,” a company spokesperson said in a statement.
Talks over a potential sale nearly reached the finish line earlier this week, according to CBS News.
But the deal reportedly collapsed after Trump announced sweeping new global tariffs—including on Chinese goods—the same day.
Following the announcement, ByteDance reached out to the White House, warning that China would not approve any sale without separate negotiations over the new trade measures.
A source familiar with the matter told CBS that all parties—ByteDance, existing and prospective investors, and U.S. regulators—had signed off on the agreement.
Trump was expected to authorize a 120-day closing window, but Beijing’s reversal left the deal in limbo.
The Chinese embassy in Washington said it opposed “practices that violate the basic principles of the market economy.”
Despite the setback, several potential buyers have emerged. Amazon reportedly submitted a last-minute proposal, though it has not publicly confirmed its interest.
Others said to be in the running include:
- Billionaire Frank McCourt and Canadian investor Kevin O’Leary
- Reddit co-founder Alexis Ohanian, who has joined McCourt’s bid
- Microsoft, Blackstone, Andreessen Horowitz, and Perplexity AI
Trump has confirmed his administration is in contact with four bidding groups but declined to name them. Vice-President JD Vance is leading efforts to secure a buyer.
In what appears to be a broader strategy, Trump hinted that a TikTok sale could be part of a larger trade bargain with Beijing.
“We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs,” he wrote. “These levies are the most powerful economic tool, and very important to our national security.”
The U.S. currently imposes a 54% aggregate tariff on Chinese imports, while China has retaliated with 34% in counter-tariffs.
As the clock ticks toward another deadline, TikTok’s future in the U.S. now hinges not just on Silicon Valley and Wall Street—but on geopolitics.
