TikTok deal deadline extended after China pulled out over tariffs: reports – National [Video]

U.S. President Donald Trump on Friday said he is signing an executive order to keep TikTok running in the U.S. for another 75 days to give his administration more time to broker a deal to bring the social media platform under American ownership.

The order was announced as White House officials believed they were nearing a deal for the app’s operations to be spun off into a new company based in the U.S. and owned and operated by a majority of American investors, with China’s ByteDance maintaining a minority position, according to a person familiar with the matter.

But Beijing hit the brakes on a deal Thursday after Trump announced wide-ranging tariffs around the globe, including against China.ByteDance representatives called the White House to indicate that China would no longer approve the deal until there could be negotiations about trade and tariffs, said the person, who spoke on the condition of anonymity to discuss …