Investing.com -- U.S. President Donald Trump on Friday extended the deadline for the sale of ByteDance’s U.S. assets of the short video app TikTok. The President cited "tremendous progress" in the ongoing negotiations, but noted that more work was necessary to secure all required approvals.
In his announcement, the President expressed his eagerness to continue working with both TikTok and China to finalize the deal. He also emphasized his desire to prevent the popular app from going offline, stating he did not want TikTok to "go dark."
The President also shared a social media post regarding the matter, in which he stated that his administration had been diligently working on a deal to save TikTok. He revealed that an Executive Order had been signed to keep TikTok operational for an additional 75 days, allowing more time to secure the necessary approvals for the deal.
The social media post also touched on the ongoing trade issues between the U.S. and China. The President expressed his hope to continue working in good faith with China, acknowledging that the country was not pleased with the reciprocal tariffs imposed by the U.S. He reiterated his belief in the power of tariffs as an economic tool and their importance to national security.
The President concluded his post by restating his commitment to working with TikTok and China to close the deal, and thanked the audience for their attention to the matter.
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