Key points
- ByteDance releases statement on its official WeChat account
- Significant progress has been made in saving TikTok: Trump
- Biden signed “sell or ban” bill passed by Congress
ISLAMABAD: ByteDance, the Chinese technology company that owns TikTok, stated early on Saturday that it is engaged in discussions with the US government but has not yet finalised any agreement.
According to Global Times, the company said, “We have been in talks with the US government about a potential solution for TikTok US”.
However, an agreement has not been reached yet. There are still key issues to resolve. Any agreement will be subject to approval under Chinese law,” in a statement released on its official WeChat account.
The announcement follows US President Donald Trump’s declaration on Friday that he would sign an executive order granting TikTok another 75-day extension under the “sell or ban” law.
Saving TikTok
Trump said his administration has been working diligently to secure a deal to “save TikTok” and that “significant progress” had been made, but further work is needed to finalise the agreement.
This extension marks the second time Trump has granted the popular short video app a temporary reprieve from a ban.
On January 20, the day Trump took office, he issued an executive order to delay the TikTok ban by 75 days “to allow my Administration an opportunity to determine the appropriate course of action with respect to TikTok,” according to Xinhua.
The order granted TikTok an extension period under the “sell or ban” law, which was originally set to expire on April 5.
Selling TikTok
In April 2024, then-President Joe Biden signed a “sell or ban” bill passed by Congress, requiring ByteDance to sell TikTok to a non-Chinese company within 270 days, or the app would be banned in the US after January 19, 2025, according to Global Times.
The app, used by 170 million Americans, briefly disappeared from the two app stores before the law took effect on January 19.
In response to Trump’s demand for ByteDance to hand over 50 per cent of TikTok to a US company or face 100 per cent tariffs on China, Chinese Foreign Ministry spokesperson Guo Jiakun said on January 21 that the US should heed the voice of reason and provide an open, fair, just, and non-discriminatory business environment for companies from all countries.
China’s response
Guo added that TikTok has operated in the US for years and has been very popular with American users, contributing positively to US employment and consumption.
Guo further remarked that decisions regarding the operation and acquisition of businesses should be made independently by companies based on market principles, and if Chinese companies are involved, China’s laws and regulations should be observed.
When asked on March 27 about Trump’s willingness to reduce tariffs on China in exchange for a deal with TikTok, Guo reaffirmed China’s position on opposing additional tariffs, stating that China’s stance on the matter remains consistent and clear.
