In the illustration in this photo, the Tiktok logo will be displayed on smartphone screens in Shanghai, China on April 5, 2025.
VCG | Visual China Group | Getty Images
President Donald Trump extended the deadline for selling Tiktok’s US operations, owned by an investor consortium, including Oracle and Silver Lake, on Tuesday, CNBC’s David Farber reported.
This is the fourth time Trump has extended the deadline. The extension excludes the Department of Justice from enforcing national security laws that effectively ban Tiktoc in the United States until December 16th, as explained in the executive order.
US Treasury Secretary Scott Bescent announced Monday that he has reached a “framework deal” involving Tiktok. Under the national security law that came into effect on Wednesday, it’s like an App Store operator. apple and Google Additionally, if the transaction is not reached, the Internet service provider will be punished for providing services to Tiktok’s US business.
Under the framework transaction, approximately 80% of Tiktok’s US operations will be owned by the investor consortium. OracleSilver Lake and Andreesen Horowitz, the Wall Street Journal on Tuesday. According to the report, as part of the arrangement, existing US users will need to shift to new apps.
Trump and Chinese President Xi Jinping are expected to discuss the terms and conditions of the Tiktok-related deal, which Treasury Secretary Scott Becent revealed on Monday, on Friday.
The deal, which CNBC’s David Faber reported on Tuesday, is expected to close in the next 30-45 days, includes new investors, existing investors, and will maintain a cloud computing agreement with Tiktok.
Bescent said on Tuesday in CNBC’s Skobox that Trump is willing to “dark” Tiktok. The Treasury Secretary said the commercial terms of the transaction have already been “essentially” already “essentially” since March or April, but China has put the transaction on hold following Trump’s strict tariffs and trade policies.
“We have been able to reach a series of agreements, mainly because it’s not a future that doesn’t affect our national security,” Bescent said Tuesday.
“Details of the Tiktok framework are pure speculation unless released by this administration,” a White House official said in a statement.
Tiktok did not reply to requests for comment.
Watch: Trump’s willingness to make China darker so that Tiktok is darker.
