WASHINGTON – President Donald Trump is extending the deadline for American investors to buy a stake in TikTok, announcing in a social media post Friday that he is signing an executive order that will allow the Chinese-owned app to continue operating for another 75 days.
The extension gave the White House more time to persuade the Chinese government to approve an agreement that the Trump administration hoped would allow the popular social media platform to continue operating in the United States.
The deal was derailed when the two countries clashed over tariffs this week, according to two White House officials.
A White House official who was not authorized to speak publicly on the matter said that as of Wednesday, a deal had been reached to spin off TikTok’s operations in the United States into a new company based in America. According to the person, the new entity would have been majority-owned and operated by American investors, with ByteDance holding a minority stake.
Trump planned to sign an executive order establishing a 120-day closing period to finalize the paperwork and financing for the agreement, which the official said had the approval of investors and ByteDance.
However, on Wednesday, Trump announced a new tariff regime, and ByteDance informed the White House on Thursday that China would not approve the deal until trade negotiations were completed.
The president said Thursday that he was very close to reaching an agreement. However, one had not been finalized as of Friday afternoon, prompting Trump to approve an extension.
“My administration has been working very hard on a deal to SAVE TIKTOK, and we have made tremendous progress,” Trump said on his social media platform, Truth Social. “The Deal requires more work to ensure all necessary approvals are signed.”
A second White House official, who was not authorized to speak publicly, said that every option under consideration would have required China’s cooperation, which responded to Trump’s tariff hike on Friday with its own steep increase.
In announcing the extension of the TikTok sale deadline, Trump mentioned tariffs and stated that his administration would continue to work with China to reach an agreement.
TikTok’s Chinese parent company, ByteDance, was given until April 5 to sell its stake in the app or face being banned in the United States, after Trump extended a January deadline set by Congress last year.
TikTok went dark briefly in mid-January as a result of a 2024 US law passed amid concerns that Chinese authorities could spy on and spread propaganda to the social media platform’s 170 million American users, who come from all political parties.
Citing national security concerns, lawmakers passed a bipartisan bill signed by President Joe Biden requiring TikTok to have a non-Chinese owner to continue operating in the United States. The Supreme Court upheld the law in January.
During his first administration, Trump criticized TikTok and attempted to ban it. However, the Republican president, who boasts of regaining the White House last November with the help of young voters who use TikTok, has since embraced the company.
TikTok CEO Shou Zi Chew attended Trump’s inauguration on Jan. 20, the same day the second-term president issued an executive order suspending enforcement of the TikTok ban.
‘It’s about livelihood’
Vice President JD Vance and senior aides have since been working to organize U.S. investors to purchase a stake in the app, with Trump stating last month that at least four buyers are interested. Oracle, a software company, and a partnership that includes startup Zoop are among the bidders.
Zoop CEO R.J. Phillips viewed the President’s decision to extend the timeline as a positive signal, indicating a recognition of the need for a fair deal. “For creators, this is not just about policy − it is about livelihood.”
Vance said Wednesday that “we are in a good place” in TikTok negotiations and that a deal would be reached before Saturday’s deadline.
“It will come out before the deadline,” Vance told Fox News. “We got a couple days to continue working on it to finalize some things, and of course we are going to let the president announce whatever we ultimately decide.”
Rising tariff tensions between China and the United States may make it more difficult to reach an agreement on TikTok.
TikTok’s sale must be approved by Chinese President Xi Jinping, and Beijing has indicated that it is willing to reach an agreement as part of tariff negotiations with the White House.
“We hope to continue working in good faith with China,” Trump wrote on Friday, adding, “We do not want TikTok to go dark.” We look forward to working with TikTok and China to complete the transaction. Thank you for paying attention to this matter!”
The president told reporters on Air Force One on Thursday that he believed China could use the TikTok sale as a bargaining chip in the two countries’ trade war.
“Maybe they want to get something a little bit in order to get TikTok approved, who knows,” Mr. Trump said.
Tensions rose this week when Trump increased tariffs on China by 34%, bringing the total tariff rate imposed on Beijing since he took office in January to 54%.
The Chinese government announced Friday that it would impose a 34% tariff on US-made goods.
In response to a request for comment, the Chinese embassy in Washington reiterated its opposition to the Trump administration’s decision to impose additional tariffs.
TikTok is extremely popular in the United States among teens and adults from the political left, center, and right, who use it to watch and share short videos and news.
