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President Donald Trump has signed an executive order that extends the deadline for ByteDance, the Chinese owner of TikTok, to divest the hugely popular video-sharing app and avoid a nationwide ban in the US.
Trump said on his Truth Social platform that he was extending the deadline, which had been Saturday, by 75 days. He said the extension was designed to allow US companies trying to acquire TikTok more time to finalise a deal.
โThe Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days,โ Trump wrote.
He said his administration hoped to โcontinue working in Good Faith with Chinaโ who he said were unhappy with the tariffs that he had imposed on imports from the country. Beijing needs to approve any divestment of TikTok, and will have control over who retains control of the critical algorithm.
โWe do not want TikTok to โgo darkโ.ย We look forward to working with TikTok and China to close the Deal,โ Trump added.
This is a developing story
