Donald Trump to extend the Tiktok transaction period in the US

Unlock the Watch Watch Bety House newsletter for free

Your guide to what the US 2024 elections are for Washington and the world

Donald Trump said he would sign the executive order that continues Bytan’s term, Chinese Tiktok owner to deprive the popular US -based video exchange app and avoid a nationwide ban in America.

US president said on his Truth Social Platform On Friday, he will push the deadline on Saturday, 75 days, adding that the extension was designed to allow US companies to try to buy Check more time to complete the deal.

“The transaction requires additional work to ensure the signing of all the necessary approval, and therefore I sign the executive order to support Tiktok and work for another 75 days,” Trump wrote.

According to the law adopted by Congress last year, Rude Until January 19, on January 19, she released the pointed to the non -Chinese structures, but this month Trump issued an order, extending a term of 90 days. Its last order expands the term for another 75 days.

Trump said he hoped to “continue working in good faith with China”, which he added that he was dissatisfied with the duties he imposed on the import of Chinese goods on Wednesday as part of his “mutual tariffs”. China on Friday avenged 34 percent tariff on imports from the US.

China needs to approve any ticket deprivation. It is unclear whether Beijing will deprive itself or allow the US group to provide control over the algorithm of the application.

“We don’t want the” darkened “tick,” Trump added. “We look forward to working with a cicinop and China to close the deal.”

Trump suggested earlier this week that he could Reduce tariffs for Chinese goods In exchange for Beijing, which allows Bytons to deprive the tank.

He also said his team was “very close” to reach a transaction with multiple investors in the United States who would allow Tiktok to continue working in the US.

Trump has been forced to balance security issues that are the main US legislation in Tiktoku-which has long been brought up by Chinese Hox in Congress-and a huge support for video sharing among young users and its own platform success.

Tiktok did not immediately respond to a comment request.

Alison Salvinsky, Vice President of ASIA Group, said any expansion is most likely to apply to companies that offer Cloud and Apps such as Apple, Google and Oracle for legal reasons.

Without the sale of Tiktok companies that distribute or accept the application, they risk a fine of $ 5,000 per user, the law reports. “The companies will still be very disturbing,” Salvinsky said.

The White House weighed the proposal to refuse Tiktok by Bytans, which would create a new American company that would receive fresh American investments to breed the ownership of Chinese investors, people familiar with this issue, The Financial Times reported this week.

According to the terms of the proposal, a group of new investors, including Andresen Haravitz, Blackstone, Silver Lake and other large private capital groups, would have about half of the US business Tiktok, people said.

These people have added large existing investors to Tiktok – including General Atlantic, Susquehanna, KKR and Coatue – will have 30 percent of the new business in the US.

Bytedons will keep the share below 20 percent, which is in line with the requirement in the legislation, which is not more than a fifth of the company controlled by a “foreign enemy”.

One of the key issues is who control the algorithm that demanded the ticket. One of the discussed options provides forancing, which continues the development and exploitation of the algorithm that was the central demand of the Government of China, while the new American group can access it through a license agreement.

But this can cause concern about the Capitol hill if many legislators insist that there is no control over the algorithm in China.