The deal to sell TikTok’s US operations to a new company with majority American ownership is stalled due to the ongoing US-China trade war. After months of negotiations, a plan was finalized for President Donald Trump to sign an executive order approving the deal. However, Chinese tariffs announced by Trump have put the deal in jeopardy. ByteDance representatives called the White House on Thursday, stating that the Chinese government would only approve the deal if negotiations could be held on Trump’s tariffs.
The deal requires the approval of both the US and Chinese governments. With tensions escalating between the two countries, the fate of TikTok’s US operations hangs in the balance. In a surprise move, Trump extended the deadline for the company to be banned or sold by its Chinese-owned parent company, pushing it 75 days from its original April 5 deadline.
The negotiations were led by Vice President Mike Pence, not JD Vance as reported earlier. The deal is currently being held up by the US-China trade war, which may determine its revival.
Source: https://abcnews.go.com/Politics/walmart-buying-tiktok-sources/story?id=120494441