President Donald Trump said on Friday that it extends the Tiktok deadline to be banned or sold by its Chinese -owned company bytedance.
The previous period of April 5 will be pushed for 75 days, Trump said in a publication on his social media platform. This is the second time he pressed the deadline after his entry into office.
“My administration works very hard on a Tictoc saving transaction and we have made great progress. The deal requires more work to ensure that all the necessary approvals have been signed, which is why I sign an enforcement order to support Tiktok and run for an additional 75 days,” Trump writes.
This move comes as Walmart is actively considering joining a group of investors to buy Tiktok, according to sources close to the deal, who say Walmart’s interest is triggered by the Amazon, who throws his hat in the ring.
As early as 2020, Walmart said he came together with Microsoft to make an offer for Tiktok. The app will give the giant retail giant to hundreds of millions of users who could become their customers and audiences for their ads in the impetus of their e -commerce business.
The Walmart logo can be seen on a pillar outside a store in Mexico City, June 14, 2024.
Henry Romero/Reuters
The Trump administration is considering a Tiktok rescue deal, which will make China maintain control of the algorithm that will be leased to an American company, as a minority property chairman, a source close to ABC News.
It is unclear whether this proposal follows the bilateral law that the Congress has adopted, which forces the Chinese mother company Tiktok to sell wildly popular social media platform or to face a ban in the United States
Sources say there are several investors who are interested in the jump to buy Tiktok, including Amazon, Oracle and Applovin. A source close to the deal also says that Tim Store, the founder of the adult website, has also made an offer at a late stage for Tiktok.
The White House and Walmart did not immediately respond to requests for comment.
Tiktok app logo, August 22, 2022
Dado Ruvich/Reuters, File
On Thursday, Trump hinted that his recently announced tariffs for China could be tactics to negotiate a Tiktok deal.
“If someone says we will give you something that is so phenomenal as long as they give us something, that’s good,” he told reporters aboard Air Force.
“We have a Ticktock situation where China is likely to say,” We’ll approve a deal, but will you do something at the tariff? “He said. “Tariffs give us great negotiation.”
Even if Trump approves a deal, China will still have to give it up. Relations between the US and China are tense, with the United States to hit China with a huge 54% tariff. China now avenges its own 34% of US imports from US
“We hope to continue working in good faith with China, which I understand, are not very happy with our reciprocal tariffs,” Trump wrote in his social media post on Friday.
“We don’t want a Tictoc to” darken “. We look forward to working with Tiktok and China to finish the deal, “he added.
