Apple will keep ByteDance-owned TikTok on its App Store for at least 75 more days after receiving assurances from Attorney General Pam Bondi, according to a report from Bloomberg News.
In a crucial development, President Trump has decided to extend the deadline for the TikTok ban by an additional 75 days. This move comes as negotiations continue around the future of the popular social media platform in the United States, amid ongoing concerns related to national security and data privacy.
The extended deadline is aimed at providing more time for discussions and potential restructuring deals that could allow TikTok to continue its operations in the U.S. without compromising the country’s security. This decision reflects the complexity of the situation, which involves multiple stakeholders, including major U.S. corporations interested in a potential acquisition of TikTok’s American operations.
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.
The move comes a few days after Trump announced sweeping tariffs, in which he imposed a 34% tariff rate on China. Trump has previously stated that he may reduce tariffs on China to facilitate a TikTok deal.
In his post announcing the extension of the TikTok ban deadline, Trump stated: “We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs (Necessary for Fair and Balanced Trade between China and the U.S.A.!). This proves that Tariffs are the most powerful Economic tool, and very important to our National Security! We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal. Thank you for your attention to this matter!”
This extension is significant as it not only gives more time for a thorough review and negotiation process but also maintains the status quo temporarily, allowing millions of American TikTok users to continue enjoying the platform. It underscores the U.S. government’s cautious approach towards resolving issues related to foreign ownership of apps that hold vast amounts of user data.
As the deadline approaches, all eyes will be on the ongoing negotiations and the potential outcomes that could reshape the presence of TikTok in the U.S. market. The extension is a testament to the intricate balance of maintaining national security while fostering an open, competitive market for digital platforms.
