Beijing (TDI): TikTok’s owner, Chinese technology company ByteDance, said on Saturday that it is involved in talks with the US government but has yet to execute any deal.
The company “has been in negotiations with Trump administration regarding a potential solution for TikTok US.
A deal has not been executed. There are key matters to be resolved. Any deal will be subject to approval under Chinese law,” the company said in a statement.
The announcement came after US President Donald Trump on Friday announced that he would ink an executive order to grant TikTok another 75-day extension period under the “sell or ban” law.
Trump said that his government has been working hard to push for an agreement to “save TikTok” and that “considerable progress” has been made, but more work is required to reach an agreement.
Trump’s extension marks the second time that he has given the popular social media platform a temporary reprieve from the ban.
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On the day Trump took office on January 20, he issued an executive order to delay the TikTok ban by seventy-five days “to give the US government an opportunity to determine the appropriate course of action with respect to the app.
The executive order granted the company a 75-day extension period under the “sell or ban” law. This extension period was originally set to expire on April 5.
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In April last year, then-president Joe Biden inked a “sell or ban” bill passed by both chambers of Congress, which needed TikTok’s parent company, ByteDance, to sell TikTok to a non-Chinese company within 270 days, or the app would be banned in the United States after January 19, 2025.
