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President Donald Trump has continue the deadline for the TikTok prohibition by 75 days . Trumpshared a berth on Truth Socialon Friday state that he is signing an executive order to allow more meter to finalize a deal . The promulgation comes just one day before the ban was set to go into effect .
Today ’s proclamation distinguish the second time that Trump has extended the deadline for the TikTok proscription . ByteDance ’s original deadline to sell TikTok ’s U.S. operations was January 19 , according to a law signed last yr by former Chief Executive Joe Biden . However , Trumpsigned an executive orderon his first solar day in office to give the company 75 more days to make a slew .
Prior to the signing of the executive club , TikTok was concisely taken offline and absent from the Apple and Google app stores before eventually being restored .
Bloomberg reports that Trumpreviewed a proposalfrom a group of U.S. investor , including , Oracle , Blackstone , and Andreessen Horowitz on Wednesday . The proposal is reportedly considered a top contender for a potential hand . Other interested party includeAmazon , Perplexity , billionaireFrank McCourt ’s Project Liberty syndicate , Walmart , AppLovin , and more .
It ’s deserving noting that the Chinese government would involve to approve any deal before it can be finalized . In summation , ByteDance has not evidence any interest in selling TikTok or cut back its stakes in the social connection as is demand by the TikTok ban law .
The move comes a few solar day after Trump herald sweeping tariff , in which he impose a 34 % tariff charge per unit on China . horn has previously tell that he mayreduce duty on Chinato help a TikTok plenty .
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In his post announce the extension of the TikTok banning deadline , Trump state : “ We hope to continue working in Good Faith with China , who I understand are not very happy about our Reciprocal Tariffs ( Necessary for Fair and Balanced Trade between China and the U.S.A. ! ) . This proves that Tariffs are the most powerful Economic peter , and very authoritative to our National Security ! We do not want TikTok to ‘ go glowering . ’ We look forrard to work with TikTok and China to end the Deal . Thank you for your care to this issue ! ”
In revenge to the tariffs , China said on Friday that it willimpose a 34 % tariffon imports of all U.S. products .
