He also came just days before Donald Trump’s deadline for TikTok to find a new home with an American company. Experts say the deal is unlikely to take place so quickly, but Trump said Thursday he would not extend it.
Additional complications are the new trade rules in China, which may prevent the buyer from acquiring the recommended TikTok algorithm. Reuters reports that China is ready to use the policy to “delay any deal reached by ByteDance, if necessary.”
The company is currently dealing with offers from Oracle and Microsoft and Walmart, which have merged in a bidding process. The current owner of TikTok ByteDance says he is considering deals that do not include the application̵
“The Chinese government has never offered us that the company should shut down TikTok in the United States or any other market,” a ByteDance spokesman said in a statement. The current top executive of TikTok in the United States, Vanessa Papas, said earlier that the company believes that there are “many ways forward” that will allow the application to stay in the United States.