Trump extends TikK’s operating license again

The U.S. ban will not apply at least for another 90 days. As the White House reports, US President Donald Trump exhibits a corresponding operating license for Tiktok. The previous exemption would have expired on Thursday.

In 2020, when Trump was the 45th President of the United States, he himself tried to ban Tiktok using presidential decree. However, he was not authorized to stop a court of Trump’s Tikok ban. In the meantime, Trump has been voted out and re -elected four years later. In between, the US legislature stepped onto the scene: Together with a clear majority, both US parties decided to prohibit Tikok as long as it is in Chinese hands. In the most recent election campaign, Trump suddenly changed his opinion and started to work for Tikkok in the USA. However, he could not win the Supreme Court to abolish the Tikok ban law.

Instead, Trump has granted temporary permits for Tikkok since taking office. Something like this is only provided in the law in the event that community owners bytedance can show real steps on the way to a sale of Tikkok. It is doubtful whether this requirement is given. After all, according to Chinese law, the government of the People’s Republic of China would have to agree.

Trump’s tariffs prevented deal

According to US media reports, negotiations have already progressed in April. Bytedance would only have kept 20 percent, the rest would have gone to US investors. But then Trump torpedoed the negotiations by increasing the tariffs for imports from China to up to 145 percent.

In addition, both sides imposed export bans in their economic war. In the meantime, Washington and Beijing have agreed to loosen the export bans and at least temporary reduction in US tariffs to “only” 55 percent. A TIKTOK deal could succeed in the slipstream of this light relaxation.

Trump’s change of sensory from the self-empowered TIKTOK ban towards personal commitment to the statutory TIKTOK ban have attributed US media to large donations to Republican election campaign funds on the part of Jeff Yass. This billionaire holds shares in bytedance.