Trump gives Tiktok 75 days to strike the sale

President Donald Trump gives more time to sell its American operations, saying that “tremendous progress” was made to a deal and the enforcement of the ban on Saturday.

On Friday afternoon, a social function of truthTrump said that despite this progress, the deal still needs more work, so it signs an executive order that gives Tiktok 75 days another, with the deadline until June 19. This step prevents the very common video application from darkness that is likely to be dark in less than one day.

Trump went on to say that his administration will continue to work with China and respond to the credit The definitions he enacted earlier this weekHe described them as “the most powerful economic tool” and “very important” for national security.

“We don’t want to” oppress Tiktok, “Trump said in his position.

Tiktok and the Chinese government have long been opposed to selling the American company’s operations and still unclear whether their positions have changed. Tiktok did not immediately respond to an email to get a comment.

Read more: Tiktok backup: 6 applications similar to your daily fun dose

On Friday, China’s reaction to the customs tariff that Trump spoke about by matching its commodities to the United States, The escalation of the trade war between the two countries and the sending of stock markets all over the world is retreating. The Dow Jones industrial average has decreased over 2200 points and Nasdaq has lost 5.8 % in in the afternoon trading – the largest decrease within five years.

Tiktok’s ban was not expected. Many of the provisions of the US Tiktok operations have made their interest in only the past few days, and Trump has met with administration officials this week to discuss potential deals and ownership structures.

According to the reports of the recent New York Times reports, it included one plan Blackstone Private Parks and Oracle Technology CompanyWhile another participated Show the last minute of Amazon.

The lawmakers in both political parties expressed their fears for a long time Tiktok can be a threat to national security It can be used by the Chinese government to spy on Americans or publish misleading information to increase China’s agenda. Tiktok continues to reject these accusations.

The law that requires sale was approved by Congress last year with the support of the two overwhelming parties and was signed by the then President Joe Biden. Freedom of expression and other groups filed a lawsuit against the law on the reasons for the first amendment, but that was The US Supreme Court supported in January.

So what is the following for Tiktok? Here is what you need to know.

What does the law do?

This law aims to compel the Chinese -based parent company that is based on the sale of Tiktok to a buyer to agree to US officials, in addition to ensuring that byteedance no longer has access to American user data or controlling Tiktok algorithm.

Tiktok has been granted nine months to comply, hence the deadline for sale on January 19, and then the government can require the removal of its application from American application stores and that other technology companies stop supporting the application and the site.

Tiktok closed in the United States on the night of January 18, citing the ban, but he returned online the next morning after Trump made assurances that he would not impose it immediately. Trump has made the formal nature of this promise by signing an executive order that the Prosecutor does not impose the ban for 75 days, which led to the move of the deadline to April 5.

The new executive is pushing the deadline until June 19, Juntenth, Federal holiday.

Read more: Tiktok loves to provide financial advice. But do not believe everything you hear

What does Trump take?

After he originally called a ban during his first presidency, Trump said during the 2024 campaign that he did not support one of them and pledged to “save Tiktok”, although he did not specify how he did so.

Trump told the press on Sunday “There is a tremendous interest in Tiktok.” He added, “He would like to see Tiktok remains alive.” The president also said that “we have a lot of potential buyers” and that his administration “deals with China”, which has long opposed the sale.

On March 26, Trump said You will consider reducing customs tariffs on Chinese goods If the government of that country agrees to sell US Tiktok operations. He also repeated at that time his willingness to pay the deadline if necessary.

Trump has also put forward the idea of ​​getting a 50 % stake in the company as part of a joint venture, but it has not given details about how this is done.

Shu Shu, CEO of Tiktok, was one of the prominent executives of the prominent technology who attended Trump’s inauguration in January, just hours before Trump signed, which gives the extension for 75 days.

Before that, during a press conference in December, Trump referred to the role Tiktok played during the elections, due to his help in obtaining the votes of young people.

Trump said: “Tactoko had an effect, so we have a look on it,” Trump said. “I have a little warm spot in my heart. I will be honest.”