Latest news with #AmericansfromForeignAdversaryControlledApplicationsAct
Business Insider
a day ago
- Business
- Business Insider
TikTok to Launch New Version of U.S. App Amid Looming Sale
China's social media giant TikTok is reportedly developing a new version of its U.S. app amid the looming threat of a potential ban or sale in the country. The news was first reported by The Information on Sunday, citing sources familiar with the matter. TikTok parent ByteDance is planning to launch the new app version in the U.S. on September 5, ahead of the extended deadline of September 17. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. U.S. President Donald Trump has extended the deadline for TikTok's ban or sale in the U.S. for the third time in order to find suitable 'non-Chinese' buyers for its U.S. operations. Last week, Trump noted that he has found a group of very wealthy buyers for the app, but that China's approval would be required for the potential sale. He is expected to start talks with China on Monday or Tuesday and is confident that Beijing will approve the sale. TikTok Aims to Stay in the U.S. Market TikTok boasts approximately 170 million American users and seeks to continue operations in the lucrative U.S. market through these strategic negotiations. According to available information, TikTok plans to launch the new app on U.S. app stores on September 5. Users will eventually need to download the new app to continue using the service. However, the existing app will also remain functional until March 2026, subject to the completion of a sale. An earlier deal for the sale of TikTok's U.S. operations to American buyers was in progress but was set aside following the imposition of stringent reciprocal U.S. tariffs on China. TikTok's problem came into focus last year after former President Joe Biden signed the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which requires TikTok to sell its U.S. operations to non-Chinese owners. The White House is concerned about the potential leakage of Americans' private data to Chinese officials through the app. However, TikTok and ByteDance have repeatedly denied any such wrongdoing. Currently, TikTok continues to operate in the U.S. under its original version but faces intense scrutiny and must find a resolution quickly to avoid a nationwide ban. We used the TipRanks Stock Comparison Tool for Top Social Media Stocks to determine which stocks are currently favored by analysts. Investors can choose to invest in any of these stocks after thorough research. Currently, Pinterest (PINS) and Meta Platforms (META) have earned Wall Street's Strong Buy consensus rating, with PINS stock reflecting a higher upside potential in the next 12 months.
Black America Web
18-06-2025
- Business
- Black America Web
Trump To Sign Executive Order Granting TikTok 90-Day Extension Amid Ongoing Sale Talks
Source: SOPA Images / Getty President Donald Trump is set to sign a new executive order this week that will grant TikTok another 90-day reprieve from a potential U.S. ban, the White House confirmed Tuesday. This marks the third such extension since Trump took office in January, as his administration continues negotiations over the future of the popular video-sharing app. 'President Trump will sign an additional executive order this week to keep TikTok up and running,' White House press secretary Karoline Leavitt told Fox News. 'As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure.' The app, owned by Chinese tech giant ByteDance, has been at the center of a heated national security debate. U.S. officials have raised concerns over the possibility that American user data could be accessed by the Chinese government. In April 2024, Congress passed the Protecting Americans from Foreign Adversary Controlled Applications Act, requiring ByteDance to sell its U.S. TikTok operations by January 19, 2025. The law allowed for just one 90-day extension, already granted earlier this year. The new executive order, therefore, represents a second extension that technically exceeds the timeline outlined in the law. TikTok has not yet secured a buyer for its U.S. operations. Reuters reported that talks stalled in April following the announcement of new tariffs on Chinese imports, leading Chinese regulators to delay necessary approvals for any sale. With the latest extension, TikTok now has until mid-September to reach a deal. SEE ALSO Trump To Sign Executive Order Granting TikTok 90-Day Extension Amid Ongoing Sale Talks was originally published on Black America Web Featured Video CLOSE
Miami Herald
18-06-2025
- Business
- Miami Herald
Trump to grant TikTok another 90 day reprieve from legal ban in U.S.
June 18 (UPI) -- President Donald Trump extended a pause on legislation banning TikTok from operating in the United States a third time, extending it for a further 90 days to allow time for a deal to split the firm's U.S. business from its Chinese parent company. The White House said Tuesday that Trump would sign a fresh executive order this week instructing the Justice Department not to take measures or impose fines on TikTok or tech providers such as Google and Apple for allowing the video-sharing app to remain on their platforms. 'As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure,' said Press Secretary Karoline Leavitt. The previous 75-day extension from April, which was due to expire on Thursday, came after his administration agreed a deal, according to CBS News, to spin off TikTok's American operation into a majority U.S.-owned entity. However, that deal was derailed by Trump's imposition of severe tariffs on China with parent ByteDance saying Beijing would not authorize the sale while the dispute over tariffs and trade was ongoing -- although TikTok maintained the deal was not finalized and approval from Beijing was a given. Trump said Tuesday that he was confident that Beijing would give its blessing. 'I think President Xi [Jinping] will ultimately approve it.' A convert to TikTok after trying to ban it in his first 2017- 2021 term, Trump acknowledges security concerns over the personal data of American users ending up in the hands of the Chinese Communist Party that prompted Democrats to join in passing a Republican bill requiring TikTok to sell by Jan. 19 this year, or be shutdown. The latest extension takes that deadline to mid-September, almost 18 months after the Protecting Americans from Foreign Adversary Controlled Applications Act was signed into law by then-President Joe Biden in April 2024. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
18-06-2025
- Business
- UPI
Trump to grant TikTok another 90 day reprieve from legal ban in U.S.
June 18 (UPI) -- President Donald Trump extended a pause on legislation banning TikTok from operating in the United States a third time, extending it for a further 90 days to allow time for a deal to split the firm's U.S. business from its Chinese parent company. The White House said Tuesday that Trump would sign a fresh executive order this week instructing the Justice Department not to take measures or impose fines on TikTok or tech providers such as Google and Apple for allowing the video-sharing app to remain on their platforms. "As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure," said Press Secretary Karoline Leavitt. The previous 75-day extension from April, which was due to expire on Thursday, came after his administration agreed a deal, according to CBS News, to spin off TikTok's American operation into a majority U.S.-owned entity. However, that deal was derailed by Trump's imposition of severe tariffs on China with parent ByteDance saying Beijing would not authorize the sale while the dispute over tariffs and trade was ongoing -- although TikTok maintained the deal was not finalized and approval from Beijing was a given. Trump said Tuesday that he was confident that Beijing would give its blessing. "I think President Xi [Jinping] will ultimately approve it." A convert to TikTok after trying to ban it in his first 2017- 2021 term, Trump acknowledges security concerns over the personal data of American users ending up in the hands of the Chinese Communist Party that prompted Democrats to join in passing a Republican bill requiring TikTok to sell by Jan. 19 this year, or be shutdown. The latest extension takes that deadline to mid-September, almost 18 months after the Protecting Americans from Foreign Adversary Controlled Applications Act was signed into law by then-President Joe Biden in April 2024.
Business Insider
17-06-2025
- Business
- Business Insider
Trump set to give TikTok 90 more days to find a deal
TikTok lives to fight another day. President Donald Trump is set to give the company 90 more days before he enforces a law requiring its owner, ByteDance, to divest from its US app, the White House told multiple outlets on Tuesday. It's the company's third extension. TikTok missed its original January 19 deadline to separate from its Chinese owner, and briefly went dark in the US before coming back online after Trump's assurances that he wouldn't immediately enforce the law. The president issued an executive order giving the company until April 5 to find a new owner, and later extended that timeline to June 19. Now, he's set to offer TikTok until mid-September to bargain. "As he has said many times, President Trump does not want TikTok to go dark," White House Press Secretary Karoline Leavitt told multiple outlets on Tuesday."This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure." The White House did not immediately respond to a request for comment from Business Insider. All of these postponements fall outside the guidelines of the original law, which dictated that the president could grant a one-time, 90-day extension before the original January 19 deadline. Over the past five months, a wave of bidders has emerged for TikTok's US business, including Perplexity AI, AppLovin, and, according to the New York Times, Amazon. TikTok could also sell to a consortium of existing investors, which would allow ByteDance to maintain a minority stake. Trump tasked his vice president, JD Vance, to oversee deal negotiations. The push to sell TikTok and other apps owned by ByteDance kicked off in 2020, when Trump signed an executive order attempting to ban the company from app stores. While that effort was blocked by a federal judge, other state and federal politicians later raised concerns that TikTok could be used as a propaganda tool or data collection platform for the Chinese Communist Party. On April 24, 2024, President Joe Biden signed the Protecting Americans from Foreign Adversary Controlled Applications Act into law, giving ByteDance 270 days to separate from its US app. A few months later, Trump began to warm up to TikTok, pledging on the campaign trail that he would try to rescue it from a ban (a change from his 2020 position). In May, Trump told NBC's "Meet the Press" host Kristen Welker that he had a "warm spot in his heart" for TikTok.
