Trump extends TikTok sale deadline by 75 days; sources say China signalled it would reject deal over tariffs

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Trump extends TikTok sale deadline by 75 days; sources say China signalled it would reject deal over tariffs - Channel News Asia

Quick Summary:

Congress passed the measure last year with overwhelming bipartisan support, as lawmakers cited the risk of the Chinese government exploiting TikTok to spy on Americans and carry out covert influence operations.

Trump has said his administration was in touch with four different groups about a prospective TikTok deal.

The plan entails spinning off a US entity for TikTok and diluting Chinese ownership in the new business to below the 20 per cent threshold required by US law, rescuing the app from a looming US ban, sources have told Reuters.