President Donald Trump has extended the deadline for the TikTok ban by 75 days. Trump shared a post on Truth Social on Friday stating that he is signing an executive order to allow more time to finalize a deal. The announcement comes just one day before the ban was set to go into effect. The announcement marks the second time that Trump has extended the deadline for the TikTok ban. ByteDance’s original deadline to sell TikTok’s U.S. operations was January 19, according to a law signed last year by former president Joe Biden. However, Trump signed an executive order on his first day in office to give the company 75 more days to make a deal. Prior to the signing of the executive order, TikTok was briefly taken offline and removed from the Apple and Google app stores before eventually being restored. Bloomberg reports that Trump reviewed a proposal from a group of U.S. investors, including, Oracle, Blackstone, and Andreessen Horowitz on Wednesday. The proposal is reportedly considered a top contender for a potential deal. Other interested parties include Amazon, Perplexity, billionaire Frank McCourt’s Project Liberty consortium, Walmart, AppLovin, and more. It’s worth noting that the Chinese government would need to approve any deal before it can be finalized. In addition, ByteDance has not shown any interest in selling TikTok or reducing its stake in the social network as is required by the TikTok ban law.
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