With a new decree, the law is delayed for 75 days that requires the sale or prohibition in the US.
“My government is working very hard on a deal to rescue Tiktok and we have made enormous progress. The deal requires more work to ensure that all the necessary approvals are signed, “Trump said in a post on Truth Social.
Former President Joe Biden signed a law last year required by Tiktok’s parent company BYTEDANCE, based in China, divesting the app or banning it in the US due to concerns about national security. The law was due to enter into force in January, but Trump said it would delay its implementation in the hope of reaching an agreement to keep the implementation alive.
Both Trump and Vice President Vance -who had led to the attempt to conclude an agreement with Tiktok -have repeatedly stated in recent days that they were expecting an agreement until the April 5th deadline.
White house sources told CNN earlier this week that Trump’s staff were considering an agreement that would include the sale of most of Tiktok’s assets in the US to Oracle Technology and other US investors, leaving Bytedance with a minority.
Trump war with China for duties
Trump’s promise to further delay the imposition of the ban probably means that 170 million US US users can use it in the near future.
ByTedance and the Chinese government have not been eager to sell. With both sides increasing duties, despite Trump’s proposal that it could reduce tariffs on Chinese imports if Beijing agreed to an agreement with Tiktok.
