Overview

• President Trump signed an executive order granting TikTok a 75-day extension to find a U.S.-based buyer, pushing the deadline to mid-June.
• The extension follows the collapse of a near-finalized deal after Trump's recent tariff announcement led to China's withdrawal of approval.
• ByteDance confirmed ongoing discussions with the U.S. government but stated that key issues remain unresolved and any agreement must meet Chinese legal approval.
• The divestment law, upheld by the Supreme Court, mandates TikTok's sale due to national security concerns over ByteDance's control of user data and the app's algorithm.
• Potential U.S. buyers include Amazon, Oracle, and Blackstone, but negotiations have been complicated by broader trade tensions and reciprocal tariffs between the U.S. and China.