Trump postpones TikTok deadline as talks continue to sell social media giant

WASHINGTON —President Donald Trump is extending the deadline for American investors to acquire a stake in TikTok, saying in a social media post Friday that he is signing an executive order allowing the Chinese-owned app to keep operating for another 75 days.

The extension gave the White House additional time to persuade the Chinese government to approve an agreement that the Trump administration hoped would allow the popular social media app to continue operating in the U.S.

The deal was derailed when the two countries clashed over tariffs this week, two White House officials indicated.

A White House official who was not authorized to speak publicly on the matter said that as of Wednesday, a deal had been reached that would have spun TikTok’s operations in the United States off into a new company based in America. The new entity would have been owned and operated by a majority of American investors, the person said, with ByteDance holding a minority position.

Trump intended to sign an executive order initiating a120-day closing period to finalize the paperwork and financing of the agreement, which the official said had the approval of investors and ByteDance.

But on Wednesday, Trump announced a new tariff regime, and ByteDance indicated to the White House on Thursday that China would not approve the deal until trade negotiations took place.

The president said Thursday that he was very close to making a deal. But one had not been finalized as of Friday afternoon, leading Trump to authorize an extension.

“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” Trump wrote on his social media platform Truth Social. “The Deal requires more work to ensure all necessary approvals are signed.”

More: What’s Trump’s stance on a TikTok ban? Here’s his history with the app

A second White House official who also not authorized to speak publicly said every option under consideration would have required cooperation from China, which responded to Trump’s tariff hike on Friday with a steep increase of its own.

Trump in announcing the extended deadline for a TikTok sale brought up the tariffs and said his administration would continue working with China on a deal.

TikTok’s Chinese parent company, ByteDance, faced an April 5 deadline to sell its stake in the app or else be banned in the U.S. after Trump extended an earlier January deadline set by Congress last year.

TikTok briefly went dark in mid-January because of a 2024 U.S. 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 across the political spectrum.

Citing national security concerns, lawmakers passed a bipartisan bill signed by President Joe Biden that requires TikTok to have a non-Chinese owner to continue operating in the U.S.. The Supreme Court upheld the law in January.

Trump had also once criticized TikTok and tried to ban it during his first administration. But the Republican president who boasts of winning back the White House last November with the support 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 that the second term president signed an executive order halting 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 buy a stake in the app, with Trump saying last month at least least four buyers are interested. Software company Oracle and and a partnership that includes start-up Zoop are among the bidders.

“We see the President’s decision to extend the timeline as a positive signal − there’s clearly recognition that the right deal needs to be made,” Zoop CEO R.J. Phillips said in a statement. “For creators, this isn’t just about policy − it’s about livelihood.”

Oracle and ByteDance did not immediately return requests for comment.

Vance said Wednesday that “we’re in a good place” with the TikTok negotiations and a deal would be reached before Saturday’s deadline.

“It’ll 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’re going to let the president announce whatever we ultimately decide.”

Increasing tensions between China and the U.S. on tariffs could make it harder to finalize a TikTok deal.

Chinese President Xi Jinping must approve the sale of TikTok, and Beijing has indicated that it would be open to a deal as part of negotiations with the White House on tariffs and other issues.

“We hope to continue working in Good Faith with China,” Trump wrote Friday, adding: “We do not want TikTok to “go dark.” We look forward to working with TikTok and China to close the Deal. Thank you for your attention to this matter!”

The president told reporters on Air Force One on Thursday that he thought China could try to use the TikTok sale as a negotiating chip in the trade war between the two nations.

“Maybe they want to get something a little bit in order to get TikTok approved, who knows,” Trump said.

Tensions escalated this week when Trump increased tariffs on China by 34%, bringing the total tariff rate he’s put on Beijing since he took office in January to 54%.

The Chinese government said Friday that it would slap a 34% tariff on U.S.-made goods.

In response to a request for comment, the Chinese embassy in Washington reiterated its opposition to the Trump administration’s imposition of additional tariffs.

TikTok is hugely popular in the United States among teens and adults who occupy the political left, center and right and who use it to watch and share short videos and news.

Contributing: Joey Garrison and Kinsey Crowley

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