TikTok's owner, Chinese technology company ByteDance said on early Saturday morning that it is involved in negotiations with the U.S. government but has yet to execute any agreement.
The company “has been in discussion with the U.S. government regarding a potential solution for TikTok U.S.. An agreement has not been executed. There are key matters to be resolved. Any agreement will be subject to approval under Chinese law,” according to a statement the company released on its official WeChat account.
The announcement came after U.S. President Donald Trump on Friday announced on social media that he would sign an executive order to grant TikTok another 75-day extension period under the "sell or ban" law. Trump said that his administration has been working hard to push for a deal to "save TikTok" and that "significant progress" has been made, but more work is needed to reach an agreement.
Trump’s extension marks the the second time that he has given the popular short video platform a temporary reprieve from the ban.
On the day Trump took office on January 20, he issued an executive order to delay the TikTok ban by 75 days "to permit my Administration an opportunity to determine the appropriate course of action with respect to TikTok," Xinhua reported. The executive order granted TikTok a 75-day extension period under the "sell or ban" law. This extension period was originally set to expire on April 5.
In April 2024, then-president Joe Biden signed a "sell or ban" bill passed by both houses of Congress, which required TikTok's parent company, ByteDance, to sell TikTok to a non-Chinese company within 270 days, or the app would be banned in the U.S. after January 19, 2025, Xinhua reported.
The social media app, used by 170 million Americans, went dark temporarily from the two stores before a law took effect on January 19.
In response to a question about Trump telling ByteDance it must hand over half of TikTok to a U.S. company or Trump will levy 100 percent tariffs on China, China's Foreign Ministry spokesperson Guo Jiakun said on January 21 that the U.S. should earnestly listen to the voice of reason and provide an open, fair, just and non-discriminatory business environment for market entities from all countries.??TikTok has operated in the U.S. for years and been very popular with American users. It has played a positive role in boosting U.S. employment and consumption, Guo said.??When it comes to actions such as the operation and acquisition of businesses, we believe they should be independently decided by companies in accordance with market principles. If it involves Chinese companies, China's laws and regulations should be observed, Guo noted.
on March 27, when asked to comment on reports that U.S. President Donald Trump said that he would be willing to reduce tariffs on China to get a deal done with TikTok, Chinese Foreign Ministry spokesperson Guo Jiakun stated that China has made its stance on TikTok multiple times, and China’s stance on opposing additional tariffs is consistent and clear.
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