Any purchase of the app’s U.S. operations requires approval from the Chinese Communist Party.
President Donald Trump signed an executive order extending the deadline for the Chinese parent company of TikTok to sell the U.S. facing facet to keep it functioning in the U.S. The president said that the acquisition “requires more work to ensure all necessary approvals are signed.”
President Trump said, “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!”
Last year, President Biden signed a federal law passed by Congress that required a “qualified divesture” of the U.S. side of TikTok, which would prohibit internet providers and app stores from hosting the platform after January 19. The social app went dark until President Trump was inaugurated the next day and extended the divesture deadline by 75 days.
Companies and firms such as Amazon, Oracle, AppLovin, Andreessen Horowitz, and Blackstone have either made bids or expressed interest in acquiring the U.S. operations of TikTok, but the sale also requires approval from the Chinese Communist Party. China increased tariffs on U.S. goods after President Trump’s tariffs came into force this week.
President Trump continued, “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.!).” He indicated he might be willing to bring down the reciprocal tariffs to get a deal done.
As the Lord Leads, Pray with Us…
- For President Trump as he seeks to facilitate a deal for the purchase of TikTok.
- For wisdom for the president and his advisors as they address international trade and commerce.
Sources: DailyWire, NY Post
