TikTok parent company ByteDance has been given an extension of seven days to sell the popular short-form video platform.
The Trump administration has previously given ByteDance an extension to finalize the sale of TikTok. That extension would have lasted until this upcoming Friday. However, an additional week has been doled out by the administration. Back in August, President Trump has directed ByteDance to divest the app within a 90-day window to avoid a nation-wide ban.
As reported by Reuters, ByteDance now has until December 4th to divest TikTok. For months, ByteDance has been discussing a deal with Oracle and Walmart to divest its US assets and create a new US-based company.
According to the report, ByteDance recently offered a new proposal to the US government. The week extension has been given in order to review the proposal, said a US Treasury representative. The proposal has been reported to address many of the concerns the Trump Administration has regarding TikTok and national security. The administration has been wary of TikTok’s data collection policies and Chinese ownership, leading to discussions of a national ban.
As far as specifics of the proposal go, sources have not been able to confirm the extent of the revised proposal.
In September, a US judge granted a preliminary injunction to ByteDance. This saw a temporary halt of the Trump administration order which would see a ban of new TikTok downloads in the US.