Overview

• On CNBC, Howard Lutnick said Beijing must approve a U.S.-drafted sale by Sept. 17 or TikTok will cease operations for its 170 million American users.
• The proposed framework would transfer TikTok’s U.S. assets to a new American-majority firm with U.S. ownership of its core technology and algorithm.
• Talks have repeatedly stalled after China refused to cede algorithm control and in response to President Trump’s recent tariffs on Chinese imports.
• President Trump has granted three deadline extensions since January despite a 2024 law requiring ByteDance to divest or face a nationwide ban.
• Some Democratic lawmakers challenge the administration’s authority to postpone enforcement while ByteDance insists security concerns could be managed without a full sale.