After months of negotiations, an agreement to deliver the operations of the United States of Tiktok to a new company with an American majority property was completed on Wednesday, according to the senior administration officials.
The investors, who included Oracle, Blackstone, Andreeson Horowitz and several others, Bytedance and the Trump administration negotiated and agreed the terms.
The Plan was that President Donald Trump sign an executive order to approve the agreement this week, which caused a closing period of 120 days to end paperwork and financing.
Tiktok application logo, August 22, 2022.
Given Ruvic/Reuters, file
The Bytedance would have maintained a minority property in the new company, under the threshold of 20% required by Congress.
All that remained was for the Chinese government to approve the agreement, something that was expected to occur all negotiation negotiations.
However, on Wednesday afternoon, Trump announced his tariffs.
On Thursday morning, the representatives of Bytedance called to the White House to say that the Chinese government would not approve the agreement until the negotiations could be held on Trump’s rates.
The agreement remains in Limbo, as a hostage of the emerging commercial war between the United States and China.
On Friday, Trump said he is extending the deadline for Tiktok to be expelled or sold by his Chinese property parent company, Bytedonce.
The previous deadline of April 5 will be pushed 75 days, Trump said in a publication to its social media platform. It is the second time that he has pressed the deadline since he assumed the position.
Tiktok’s negotiations were directed by Vice President JD Vance, sources told ABC News. Currently, the agreement is not renegotiating with investors and the White House, both standing.
The revival seems to depend on what happens with the negotiations of the United States and China on trade.
