Trump Pushes for Third TikTok Extension as June 19 Deadline Looms
Another day, another deadline extension—because why let national security concerns interrupt a good viral dance trend?
The Trump administration eyes its third delay on forcing TikTok's sale or ban, kicking the can down the road like a hedge fund rolling over its bad debt. June 19 is the new D-Day—unless, of course, it isn't.
Active verbs only? Try: delays, dodges, and ducks. Because when in doubt, extend. Just ask the Fed.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
U.S. officials believe that TikTok-owner ByteDance, a Chinese company, has ties to China’s government, making the app a risk to national security given its usage among 170 million Americans.
In April 2024, former President Biden signed a bill giving TikTok nine months to find a U.S.-approved buyer. Nine months later, TikTok failed to find a buyer, which resulted in Trump stepping in with a 75-day extension. After that extension expired, Trump provided the company with another 75-day extension.
TikTok Unlikely to Find Buyer until U.S.-China Trade Talks Resolve
After Trump announced his sweeping tariffs, ByteDance informed the WHITE House that China wouldn’t agree to a TikTok sale until the two sides could come to terms on trade policies. Trump spoke with Chinese President Xi over the phone on Thursday, although TikTok wasn’t discussed. Still, tensions between the two sides appear to be easing, with China granting suppliers of three top U.S. automakers with rare earth export licenses today, per Reuters.
Head over to TipRanks’ Stock Analysis and News feed for the latest breaking news.
