The president Donald Trump signed on Tuesday (16) an executive order extending the application of Tiktok prohibition in the United States for another three months – an action that can be replaced later this week by an agreement to sell American assets of the social media application to an buyer supported by Americans.
The executive order was necessary to prevent Tiktok from being unavailable in the United States on Wednesday (17), when the previous extension would expire.
Trump has extended the Tiktok ban three times since she initially entered into force on January 19, a day before Trump took office.
The Trump government announced on Monday that.
Although the Trump government has not revealed the terms of the agreement, it is expected to take control of Tiktok operations in the US after Trump and Chinese leader Xi Jinping to hold a telephone conversation on Friday to finalize the sales agreement.
Trump has long been looking for an evasive agreement to tear out Chinese control American assets, allowing an American investor group to buy it. This was an unfeasibility for China for months.
But US Treasury Secretary Scott Bessent said on Tuesday that China finally gave way after Trump’s threat to close Tiktok in the United States.
“What changed Maré was a call that the Ambassador (Jamieson) Greer and I had with President Trump the night after the first day of negotiations, and President Trump made it clear that he would be willing to leave Tiktok inactive,” Bessent told CNBC on Tuesday.
Bessent said he expected Trump and Xi to finalize an agreement during a telephone call that would take place on Friday.
Most of the deal – the organization of a US -led investor group to buy Tiktok assets in the US – had been completed in April, Bessent said.
But then they came into force, effectively imposing an embargo on all Chinese products, and Tiktok negotiations were paralyzed.
After reducing tariffs and resuming negotiations between the US and China, Bessent said that both Trump and Xi express interest in resuming discussions about Tiktok.
But important details needed to be right, including the approach of concerns with the US national security and the willingness of China to approve the deal.
“We were not willing to give up national security in favor of the agreement,” said Bessent. “So we have been able to close a series of agreements, especially about things we won’t do in the future and that will not have an impact on national security.”
In the end, both sides agreed, and Bessent said that the terms of the agreement and investors will be revealed in the coming days or weeks.
“President Trump showed great leadership and firmness to what he wanted to see in this agreement,” said Bessent. “I think it’s highly satisfactory for US interests.”
Bessent did not discuss another point of influence Trump was using in Tiktok’s negotiations: a meeting that China wanted to organize between Xi and Trump. American authorities said to CNN On Monday an agreement with Tiktok was a crucial step in organizing this meeting, which could take place next month.
Kevin Liptak of CNN contributed to this report.
