President Donald Trump signed an executive order to delay the TikTok ban in the United States by another 75 days. On April 4th, Trump announced the second extension deadline for ByteDance to sell TikTok. The ban would have taken place on April 5th, but Trump believes they have achieved significant progress toward making this deal happen. However, the deal requires extra work to ensure all the necessary approvals are signed. As we know how long legal issues can truly take. The first 75-day extension occurred shortly after Trump’s inauguration after TikTok officially shut down in the U.S. But the app only went dark for less than 24 hours before Trump’s first extension. There have been several potential buyers for TikTok’s U.S. business. Initially, it looked like Mr. Beast was the most serious about buying the app at the beginning of the first extension, but there has been no sign of him still pursuing that deal. Among the currently reported buyers are Amazon, Oracle, billionaire Frank McCourt and Jesse Tinsley, founder of payroll company Employer.com; and Zoop, a startup run by Tim Stokely, founder of adult entertainment platform OnlyFans, and some others. The tariff battle between the U.S. and China did have an impact in securing the deal which would give U.S. investors majority of control and ByteDance with only a 20% minority stake. Which is the maximum the law will allow ByteDance to keep. On Thursday, April 3rd, Trump announced the global tariffs. This increased China’s tariffs by an extra 34%, increasing it to a total of 54%. This is to even out the amount of money the U.S. makes from China for how much the U.S. has already been paying to China in tariffs. Obviously, China was not happy with that and answered back with their own 34% retaliatory tariffs. This most definitely hindered the TikTok deal, which was almost complete. Now time will tell what will happen with the tariffs and what will happen with the beloved app TikTok.TikTok Granted Another Extension Before Ban
