Trump says he would ‘probably’ extend TikTok – Business News
President Trump said Thursday that he would “probably” extend the deadline for a sale of China-owned TikTok if terms aren’t reached before a 75-day window for negotiations expires on April 5.
Trump has until that day to find a buyer for TikTok after issuing an executive order delaying enforcement of a federal ban by 75 days. TikTok, led by CEO Shou Zi Chew, had briefly gone offline in January after its Chinese parent ByteDance missed a Jan. 19 deadline to completely divest.
When asked about whether he’d seek an extension if necessary to avoid a TikTok ban, Trump said “Probably, yeah.”
President Trump said there is a lot of interest from potential TikTok buyers. REUTERS
“We have a lot of interest in TikTok,” Trump added. “China is going to play a role, so hopefully China will approve of the deal.”
Congress passed the law requiring ByteDance to sell its stake due to national security concerns. As written, the law requires a complete divestment of Chinese ownership of the popular video-sharing app, though Trump has suggested that the US could partner with China on a joint venture that ensures Americans are protected.
When asked about how long he could extend the window and whether his team was nearing a deal, Trump said “We’ll see.”
“Right now, we have at least another month, so we don’t need an extension” Trump added. “But if I need an extension, I’ll probably get it extended.”
Trump vowed to “save TikTok” ahead of the 2024 presidential election and has credited the app with contributing to his political success. The president has previously said that he believed China’s leader Xi Jinping would approve a sale.
TikTok faces a total ban in the US if a deal isn’t reached. Getty Images
Vice President JD Vance is reportedly leading efforts to broker a sale.
Trump has floated the possibility that a newly created US sovereign wealth fund could be involved in a transaction to acquire TikTok.
Other suitors include billionaire Frank McCourt and “Shark Tank” star Kevin O’Leary, who announced earlier this week that Reddit cofounder Alexis Ohanian had joined their bid to buy TikTok and rebuild its algorithm on US soil.
After briefly removing TikTok from their app stores to comply with the law, Google and Apple resumed allowing downloads following assurances from Trump’s attorney general Pam Bondi that they wouldn’t be fined.
TikTok CEO Shou Zi Chew attended Trump’s inauguration. AP
US lawmakers and the Justice Department said TikTok could be exploited by the Chinese Communist Party for mass data collection and used to manipulate public opinion through its algorithm.
The US Supreme Court shot down TikTok’s argument that the law violated the First Amendment and said the feds had raised credible concerns about national security.
Last month, a national survey found that 77% of Americans were concerned about ongoing Chinese ownership of TikTok, as The Post reported.
Sen. Tom Cotton (R-Ark.), who chairs the Senate Intel Committee, wants “any deal for TikTok to result in a complete break from Communist China in accordance with the law,” a spokesman told Punchbowl News last month.
