President Donald Trump announced a 90-day extension delaying the ban on TikTok in the United States. This marks the third postponement since Congress passed a law in 2024 mandating the sale of TikTok's American operations to a non-Chinese buyer. The delay pushes the deadline to September 17th.
The proposed ban stems from national security concerns, alleging that the Chinese government could access sensitive user data or manipulate content. However, concrete evidence supporting these claims hasn't been presented by the US government.
A potential solution involved Oracle taking the lead in the US operation, partnering with Blackstone or Michael Dell. This restructuring aimed to reduce the Chinese stake to 20%, meeting the legislation's requirements. However, escalating trade tensions between the US and China have stalled the progress of this agreement.
Trump's decision aims to avoid a potentially unpopular move amongst millions of younger voters who use the app. ByteDance, TikTok's parent company, insists it's committed to finding a solution to maintain the app's presence in the US, where it boasts over 170 million users and plays a major role in the digital advertising market.
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