Well, it's April 7th — two days past the April 5th deadline to secure a deal with an American company to purchase TikTok. No deal has been struck, and I'm still using the app.
Let's take a look at what happened last week:
On April 4th, 2025, President Trump signed an executive order granting another 75-day extension for ByteDance to divest its US operations before a ban would be put in place, aiming to provide additional time to finalize a deal that aligns with US regulatory requirements.
Trump wrote on social media:
“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress. The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days.”
Negotiations for the sale of TikTok's US operations later faced setbacks after President Trump announced new tariffs on Chinese imports, including a 54% tariff rate on Chinese goods. This action led China to halt approval processes for the deal until there could be negotiations about trade and tariffs.
Ooh, so close!
Trump said to reporters on Air Force One on Sunday:
“We had a deal pretty much for TikTok — not a deal but pretty close — and then China changed the deal because of the tariffs. If I gave a little cut in tariffs, they'd approve that deal in 15 minutes, which shows you the power of tariffs.”
I love how he put the blame on China for “changing the deal,” when Trump is the one who added last minute tariffs into a “pretty close” deal.
To be honest, I don't believe any of this news. I don't believe that a deal was close, or that China is even participating in these negotiations. I don't think ByteDance has any plans to divest TikTok US to an American company at all, and instead are buying time to ramp up operations in countries with more stable economic policies.
The only public statement ByteDance has said on the matter is that the company has “been in discussion” with the United States regarding a potential solution for TikTok but that “An agreement has not been executed. There are key matters to be resolved. Any agreement will be subject to approval under Chinese law.”
Even if I'm completely wrong, and a deal is actually “pretty close,” why are so many companies like Amazon, Applovin, and OnlyFans (well, the founder at least) tossing out last minute bids for TikTok? Aren't we supposedly in the final hours of negotiating an established offer? None of this makes sense, and I call BS on the whole narrative.
Other TikTok news that surfaced last week:
- ABC News reported that Walmart was considering joining a group of investors to buy TikTok, but Walmart later denied the report and ABC took the article down.
- One person directly involved with the matter told press that the White House is considering a deal that involves leasing TikTok's algorithm from ByteDance.
- Business Insider reported that TikTok staffers say Chinese leadership at ByteDance has been tightening its grip over US operations during the past year, replacing several key American executives with Chinese leadership.
- TikTok Global, a Florida-based company formed by American investors specifically to acquire the app, is seeking $58B in damages from ByteDance, whom it accuses of a conspiracy to maintain control over TikTok's US operations in violation of antitrust laws, claiming that ByteDance deliberately thwarted its acquisition efforts by circumventing proper procedures, stifling competition, and maintaining control over TikTok's US operations, all under the guise of compliance with Trump's 2020 executive order. Now they're bitter that TikTok may be up for sale again and they're not part of the conversation.
Perhaps if Trump delays or fumbles the negotiations long enough, he can put off dealing with it until his third term.