TikTok granted second extension amid US tariffs wars

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TikTok has been granted a second 75-day extension by US president Donald Trump to postpone the enforcement of its sale-or-ban law.

In a post on Truth Social on Saturday (5 April), Trump said his administration has been working "very hard" on a deal to save the ByteDance-owned company, noting that the deal requires more work to ensure all necessary approvals are signed.

"We do not want TikTok to 'go dark'. We look forward to working with TikTok and China to close the deal," he added. Trump also referenced the ongoing tariffs announcement, stating that he hopes to continue working in good faith with China.

Don't miss: TikTok ad chief steps down ahead of 5 April ban

In a statement to BBC last week, a ByteDance spokesperson said that the company had been in talks with the Trump administration, however, an agreement has not been finalised. The spokesperson also stated that there are important matters to address, and any agreement will require approval under Chinese law.

MARKETING-INTERACTIVE has reached out to ByteDance for a statement.

Trump has also recently implemented significant tariffs affecting major US trading partners, including China. According to Reuters, the US president introduced additional 34% tariffs on Chinese goods as part of significant levies on most US trading partners, raising the total duties on China to 54% this year.

Trump also reportedly closed a trade loophole that had permitted low-value packages from China to enter the US without being subject to duties. In response, China reportedly retaliated with extra levies of 34% on all US goods and export curbs on several rare earths, further escalating the trade war between the two countries.

In a Facebook post on Saturday, Chinese foreign ministry spokesperson Guo Jiakun said that the "market has spoken" after sharing a picture of falls in the US market.

Meanwhile, in January this year, TikTok users in the US were shut out of the platform following the app's short-lived ban. Trump later issued an executive order to extend the period of time before the law's prohibitions took effect.

At the time, Trump stated that he would like the United States to have 50% ownership in position in a joint venture in order to "save TikTok, keep it in good hands and allow it to stay up." He emphasised that without the US' approval, there would be no TikTok. However, with the nation's approval, the platform will be worth "hundreds of billions of dollars - maybe trillions."

Following the first ban, several parties were rumoured to be buying over the app giant, including X's Elon Musk. However, Musk quickly ruled out any any interest in acquiring TikTok, noting that he does not personally use TikTok and is unfamiliar with its format.

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