President Donald Trump recently announced an extension for ByteDance, the parent company of TikTok, to divest its U.S. operations. The deadline has been pushed back by 75 days to mid-June, allowing additional time for negotiations and necessary approvals. This marks the second extension since Trump’s initial executive order, which granted ByteDance a similar 75-day reprieve on January 19.
In a post on his Truth Social platform, Trump indicated that the deal requires more work, expressing a desire to maintain good relations with China amidst ongoing trade tensions, including recent reciprocal tariffs imposed on Chinese imports. He stated, “We do not want TikTok to 'go dark.'”
ByteDance confirmed ongoing discussions with the U.S. government but noted that any agreement would also need to comply with Chinese law. A spokesperson mentioned that critical matters remain unresolved, and no formal agreement has yet been executed.
In light of the imminent deadline, multiple parties, including Oracle, AppLovin, and a consortium led by billionaire Frank McCourt, have expressed interest in acquiring TikTok’s U.S. assets. Additionally, Amazon reportedly made a last-minute bid, while other investment firms have shown interest in forming a new U.S.-specific entity for TikTok.
The urgency of these negotiations arises from a national security law signed by former President Joe Biden, which mandates that ByteDance must complete a qualified divestiture of TikTok's U.S. operations. As negotiations continue, the Chinese government’s approval will be necessary for any final deal to proceed.