Trump 'rescues' TikTok again.

The TikTok logo in front of the company's office in California (USA). Photo: Bloomberg .

On June 17, the White House announced that US President Donald Trump signed an executive order extending TikTok's operating license, giving parent company ByteDance more time to seek an agreement to divest from the platform in the US.

"Similar to previous statements, President Trump does not want TikTok to cease operations," White House Press Secretary Karoline Leavitt shared.

She emphasized that during the 90-day extension period, the US government would ensure the agreement was finalized so that people in the country could "continue using TikTok with their data guaranteed to be safe and secure."

According to Bloomberg , this is the third time Trump has extended TikTok's license since taking office in January. For now, TikTok is not banned in the US, even though it is one of the sources of tension between the US and China.

For President Trump, the 90-day extension gives him more time to reach a deal that is considered complex, requiring China's approval to sell TikTok to American investors.

Negotiations are largely stalled due to US-China tensions over tariffs. In May, both sides accused each other of violating the agreement in Geneva (Switzerland). Both are expected to resume talks in London (UK) in June to reduce tariffs.

According to the WSJ , the most recent extension will expire on June 19th. Under an executive order signed by former President Joe Biden in April 2024, ByteDance was required to divest its TikTok operations in the US by January 19th due to national security concerns.

After taking office in January, Trump initially granted TikTok a license before extending it again in April. However, the latest extension raises concerns about its legality because, under the law, the president can postpone the license once for up to 90 days if negotiations show "significant progress."

In the April extension, Trump said the agreement was “largely finalized,” but accused China of changing its stance due to tariff tensions between the two countries.

According to proposals from the US government, several potential investors for TikTok in the US include cloud computing company Oracle, private equity firms Blackstone and Silver Lake, venture capital firm Andreessen Horowitz, and Michael Dell, CEO of Dell Technologies, who would hold a stake in TikTok's US operations.

Internal sources indicate that the new investor could hold 50% of TikTok's US shares, while ByteDance's current investor is expected to own around 30%. This means the Chinese company's stake in TikTok in the US would be less than 20%, meeting the ownership requirements under US security laws.

Oracle itself also owns a small stake, playing a role in ensuring user data security. The Trump administration was expected to reach a deal with Oracle before the April 5 deadline, but China delayed approving the plan after Trump announced tariffs on several countries.