After months of negotiations, an agreement to submit the United States operation to Tiktok to a new company with the American majority ownership was completed on Wednesday, according to senior administrative officials.
Investors – including Oracle, Blackstone, Andreeson Horowitz and several others – Hytedance and Trump’s administration were negotiated and approved these requirements.
The plan is President Donald Trump to sign the executive order to approve the agreement this week, triggers the closing period of 120 days to complete documents and financing.
Tiktok application logo, August 22, 2022.
Dado Ruvic/Reuters, File
Bytedance will maintain minority ownership in new companies, below the 20% threshold required by the Congress.
What remains is only for the Chinese government to approve agreement – something that all parties expect from negotiations will occur.
However, on Wednesday afternoon, Trump announced the tariff.
Thursday morning, representatives for Bytedance called the White House to say that the Chinese government would not approve the agreement until negotiations could be held at Trump tariffs.
The agreement remains in the limbo, a trade war hostage that emerged between the US and China.
On Friday, Trump said he extended the deadline for Tiktok to be prohibited or sold by a Chinese parent company, Hytedance.
April 5 deadline will be encouraged 75 days, Trump said in a post to his social media platform. This is the second time he has pushed the deadline since serving.
Tiktok negotiations are led by Vice President JD Vance, Sumber told ABC News. The current agreement is not re -negotiated with investors and both White Houses stand.
The resurrection seems to depend on what happened to us and Chinese negotiations about trade.