Shortly after Monday’s inauguration ceremony, President Donald Trump signed an executive order extending the deadline for ByteDance to sell TikTok’s U.S. operations, preventing the app from going dark. for an additional 75 days.
The executive order directs the U.S. Attorney General to refrain from enforcing the law that would ban the app and force companies like Apple and Google to remove it from their app stores. TikTok did not immediately respond to a request for comment.
Days before the Jan. 19 deadline, Trump suggested he would “save” the app once he officially takes office. In an interview with Kristen Welker at NBC News on SaturdayTrump said he would give ByteDance more time to find a buyer, but did not explain how he plans to do so. “You have to look at it carefully. “It’s a very serious situation,” he said.
In an article in Truth Social on SundayTrump confirmed that the extension would be done through an executive order that would allow his administration to negotiate a deal with ByteDance. In his message, Trump said he would pursue a 50% joint venture deal with ByteDance, preferably with a U.S. entity.
“By doing this, we are saving TikTok, keeping it in good hands, and allowing it to (remain) active,” Trump wrote. “Without US approval, there is no TikTok. With our approval, it’s worth hundreds of billions of dollars, if not billions. »
ByteDance and TikTok have yet to respond publicly to Trump’s proposal. At Monday’s signing ceremony, Trump said he thought TikTok CEO Shou Zi Chew would “really like it.” Trump said private companies could be involved in financing the negotiations. “I think a lot of people will be interested in TikTok with the United States as a partner,” he said.
The executive order itself does not mention surrender, but rather states that the 75-day reprieve is for “the opportunity to determine the appropriate course of action in an orderly manner.”
The rush to keep TikTok online came after the company suffered a devastating blow from the Supreme Court of the United States. The court on Friday upheld a law requiring TikTok to be sold to a U.S. owner to avoid a nationwide ban. The decision came just two days before the law took effect.
Shortly before midnight on Saturday, TikTok users received a notification warning them that the app was no longer available to US users due to the sell-or-ban law. Around the same time that Apple and Google removed the app from their app stores, other ByteDance-owned apps, including CapCut, Lemon8, and Marvel Snap, were also removed. TikTok was down for about 15 hours before the company released a statement announcing its return.
“In agreement with our service providers, TikTok is in the process of restoring the service. We thank President Trump for providing necessary clarity and assurance to our service providers that they will not face any penalties in providing TikTok to more than 170 million Americans and enabling more than 7 million small businesses to thrive,” the company said. Sunday evening.
The Divestiture Act has sparked resentment on both sides of the aisle. “In Washington DC, I am holding meetings to try to get this ban on TikTok lifted,” wrote Soulja Boy, in a post on X this weekend. The rap artist was in town to perform at a crypto industry kickoff party.
A variety of American financiers I considered buying the appincluding former Los Angeles Dodgers owner Frank McCourt and former Trump Treasury Secretary Steven Mnuchin. McCourt’s Liberty Project makes an official offer after the Supreme Court announced its decision. Elon Musk’s name also came up during discussions about a deal with the Chinese government. according to Bloomberg.
On Monday, Trump suggested he could impose retaliatory tariffs against China if the Chinese government refuses to negotiate a deal resolving the U.S. government’s national security concerns with TikTok. “I’m not saying I would, but you certainly could,” he said.