The President of the United States plans to extend the deadline for the sale of the social network at a time when Washington and China are seeking to resume negotiations
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President Donald Trumpis considering extending, for the third time, the deadline for the mandatory sale ofTikTok in the United States, just as Washington and Beijing prepare to resume trade negotiations.
The law that requires TikTok's Chinese parent company, ByteDance, to sell the app to American investors expires on June 19. However, sources close to the government have indicated that Trump is willing to grant more time if he believes it is necessary to maintain an advantage in trade talks with China.
An official familiar with the president's thinking told On The Money that the Chinese are using the TikTok issue as a bargaining tool.
Byte Dance, empresa matriz de TikTok, debe vender su participación a inversores estadounidenses
In this context, Trump could choose to let TikTok "shut down" and disappear from app stores on June 19 if he believes that will provide him with a strategic advantage in the tariff dispute with China, which has been complex and at times tense.
Since its rise in the global market, TikTok has faced criticism for collecting personal data from American users for the Chinese government.
Although the company has categorically denied these accusations, suspicions have persisted and led Congress and the Biden administration to sign the "divest-or-ban" law, which requires the sale or prohibition of the app. This law was set to take effect on January 19, one day before Trump resumed the presidency.
Este sería el tercer aplazo de la fecha límite otorgada por la administración Trump
After taking office, Trump signed an executive order that delayed the law's entry into force by 90 days. Subsequently, in early April, he announced a second extension just as a group of American investors was about to establish a structure for TikTok to come under majority American ownership, with ByteDance remaining a minority shareholder.
This group of investors is led by Oracle, a technology company founded by Larry Ellison, a political ally of Trump. Nevertheless, the deal stalled when the trade war between China and the United States regained prominence.
The TikTok case, which began as a national security issue, has become deeply intertwined with trade and electoral politics.
El grupo inversor dispuesto a adquirir las acciones de TikTok está encabezado por Larry Ellison
