Trump Delays TikTok Divestiture Deadline, Extends ByteDance Timeline
President Donald Trump signed an executive order postponing the deadline for Chinese ownership divestiture of TikTok until mid-December 2024, allowing ByteDance more time to transfer American assets of the platform to U.S. owners, maintaining its operations in the U.S. under a renewed agreement.
- Country:
- United States
In a significant development, President Donald Trump has signed an executive order delaying the mandatory divestiture of Chinese ownership in TikTok. Initially set for enforcement in 2024, the deadline is now pushed to December 16, granting ByteDance an additional 90 days to restructure ownership.
This move is part of a wider strategy to finalize an agreement ensuring TikTok's continued operations in the United States under American ownership. Insiders suggest the recent deal closely resembles a proposal discussed earlier this year between the U.S. and Chinese parties.
The executive order aligns with ongoing U.S.-China negotiations aimed at addressing national security concerns, while maintaining a popular social media platform accessible to millions of American users.
(With inputs from agencies.)
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