Former President Donald Trump has hinted that indeed he could push the deadline for a TikTok ban at least. This social media giant might have its own feed changed as conversations develop. He recently set a deadline of June 19 to complete the transfer of TikTok’s U.S. operations to American companies. If the deal is not completed by then, he will give the company an additional extension.
In April, Trump gave TikTok a 75-day extension period, buying three more months for negotiations. He underscored the point that any deal requires the blessing of the Chinese Communist Party’s leadership. The government recently expressed its dissatisfaction with U.S. trade policies including the Reciprocal Tariffs.
Trump’s administration had issued an order requiring that TikTok’s parent company, ByteDance, divest its American operations to resolve national security concerns. As negotiations continue, Trump has suggested a preference for a joint venture that includes U.S. ownership to alleviate those concerns.
In a recent interview, presidential hopeful Donald Trump outlined his agenda for TikTok and we weren’t necessarily expecting this, but apparently Trump’s a big fan of TikTok.
“Perhaps I shouldn’t say this, but I have a little warm spot in my heart for TikTok.” – Donald Trump
Despite these sentiments, the clock is ticking. Now the June 19 deadline is right around the corner. If talks break down, Trump is willing to grant an additional 90-day extension of the ban to allow for further negotiations to resume.
In these negotiations, the willingness of the Chinese government to contest such international agreements and carry their weight remains a key point. To date, officials have been mum on both the potential sale and/or joint venture proposals. Yet, they have expressed their concern before over U.S. trade actions targeting Chinese firms.
As the situation continues to unfold, stakeholders on both sides of the Atlantic are watching the results of these negotiations with great interest. As we reported last month, TikTok’s future in the U.S. is hanging by a thread. This ruling may establish important precedents for future international commercial transactions and data privacy laws.
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