Donald Trump has extended the deadline on the TikTok ban by 75 days but is now pushing for 50 percent U.S. ownership—an unlikely scenario.
Trump warned he could hit China with 100% tariffs if it intervened and blocked a deal to allow 50% U.S. ownership of TikTok.
TikTok restored US services after Donald Trump pledged to delay enforcement of a ban. Yet it’s not clear whether the app’s Chinese parent is able — or willing — to secure a US backer in time to avoid a permanent shutdown.
A change to China’s export rules could give Beijing sign off on any deal that would force the internet giant ByteDance to give up TikTok.
"Shark Tank" investor Kevin O'Leary discussed TikTok's future, particularly the role of a "secret golden share" as his offer for the platform remains on the table.
It’s only fitting that TikTok’s fate turn into a wild dance. As the U.S. Supreme Court weighs up the constitutionality of a proposed ban on the popular video app, Beijing has pirouetted into the possibility of letting ByteDance sell it to Elon Musk,
Chinese authorities appear to be softening their stance on the fate of TikTok, possibly paving the way for Beijing-based ByteDance to begin talks with American investors, according to people familiar with the matter.
A vast majority of US citizens consider Beijing a threat, but giving up a silly video-sharing app is apparently too great an inconvenience.
In an executive order signed on Monday, Trump instructed the U.S. attorney general to not enforce the ban for 75 days while his administration determines “the appropriate course forward in an orderly way that protects national security while avoiding an abrupt shutdown” of TikTok.
As the popular video app faces a ban in the United States, Chinese officials are said to be weighing options to save it — including a sale to the tech mogul.
Trump said the government should be a half owner of TikTok's U.S. business in return for keeping the app alive, and threatened China with tariffs if it failed to approve a deal.