Giving another 75 days to TikTok to find US buyer, says Prez Trump

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Giving another 75 days to TikTok to find US buyer, says Prez Trump - Business Standard

Quick Summary:

President Donald Trump on Friday said is signing an executive order to keep TikTok running in the US for another 75 days to give his administration more time to broker a deal to bring the social media platform under American ownership.

Trump has recently entertained an array of offers from US businesses seeking to buy a share of the popular social media site, but China's ByteDance, which owns TikTok and its closely-held algorithm, has insisted the platform is not for sale.

Congress had mandated that the platform be divested from China by Jan 19 or barred in the US on national security grounds, but Trump moved unilaterally to extend the deadline to this weekend, as he sought to negotiate an agreement to keep it running.