TikTok’s deadline comes and goes with no sale and no ban, yet
A Friday deadline for TikTok’s Chinese owner to satisfy a government order to sell the short-form video app’s US operations is expected to expire without an extension even as negotiations are set to continue, according to a person familiar with the matter.
A week ago, the Committee on Foreign Investment in the United States gave ByteDance a seven-day extension as it reviewed the deal. An August executive order issued by President Donald Trump set an initial deadline of Nov. 12. The company has received two extensions from CFIUS, which reviews foreign acquisitions for national security risks.
ByteDance has struck a preliminary deal with software company Oracle and retail giant Walmart, but the agreement still needs to be finalized. There’s also been confusion about the terms of the deal, including the amount of control each company will have over TikTok and whether the arrangement will satisfy national security concerns.
Trump was said to have personally decided against an additional extension, Reuters reported.
The White House and the Justice Department didn’t immediately respond to a request for comment. A spokesperson for the Treasury Department, which houses CFIUS, said the committee “is engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the President’s August 14 Order.”