According to a court filing, the Trump administration has granted TikTok’s owner ByteDance a new seven-day extension to an existing order directing the Chinese company to sell its TikTok short video-sharing app.
Earlier the the Trump administration had granted ByteDance a 15-day extension which was set to expire on Friday.
On August 14, U.S. President Donald Trump had directed ByteDance to divest its stake in TikTok within 90 days. The new deadline is now December 4, 2020.
Under growing pressure from the U.S. government, ByteDance has been negotiating since months to finalize a deal with Walmart Inc and Oracle Corp and shift TikTok’s U.S. assets into a new entity.
TikTok declined to comment beyond the filing.
According to a source briefed on the matter at hand, ByteDance has made a new proposal aimed at addressing the U.S. government’s concerns; the move, a typically Chinese strategu, further prolongs endless negotiations without a goal in sight.
A U.S. Treasury representative said the extension was granted to review a recently received “revised submission”.
ByteDance made the proposal after disclosing on Nov. 10 that it had submitted four prior proposals including one in November that sought to address U.S. concerns by “creating a new entity, wholly owned by Oracle, Walmart and existing U.S. investors in ByteDance, that would be responsible for handling TikTok’s U.S. user data and content moderation.”