Trump Extends Deadline for TikTok Sale Amid Tariff Tensions

President Trump extended ByteDance's deadline to sell TikTok's U.S. assets by 75 days to secure necessary approvals. While exploring a deal with major investors, the administration is negotiating tariff reductions, with China facing 54% tariffs on U.S. imports. Beijing's approval remains a key obstacle.

In a move to avert a ban on TikTok, President Donald Trump has extended the deadline by 75 days for ByteDance, the Chinese tech giant, to sell its U.S. assets. This development comes amid ongoing discussions about reducing tariffs on Chinese imports, which currently stand at 54%.

One critical aspect of the negotiations involves increasing stakes from the significant non-Chinese investors in ByteDance, enabling them to acquire TikTok's U.S. operations. The plan, reportedly backed by major funds like Jeff Yass' Susquehanna International and Bill Ford's General Atlantic, aims to establish a new U.S.-based entity for TikTok.

The deal, however, faces a significant hurdle: China's approval, which is yet unresolved. Despite interest from companies like Walmart, Beijing has not committed publicly to facilitating ByteDance's sale of TikTok's U.S. business. Observers await how both nations navigate this intricate negotiation.

(With inputs from agencies.)