Overview

• President Trump will sign an executive order this week to delay the June 19 deadline for ByteDance to divest TikTok’s US business by another 90 days.
• The 2024 divestiture law was enacted over bipartisan national security concerns and upheld by the Supreme Court to protect American user data.
• Deal talks collapsed after China indicated it would not approve any sale that included TikTok’s algorithm, a key sticking point.
• Potential buyers such as Oracle, AppLovin and Frank McCourt’s consortium remain interested but must obtain Chinese government approval to proceed.
• The added reprieve keeps TikTok running in the US while the White House navigates trade tensions that have hindered progress on a sale.