The TikTok sale in the United States is close to being finalized, according to President Donald J. Trump, as he will be going on a call with China's President, Xi Jinping, on Friday, September 19, to discuss the deal.
However, it should be noted that the latest deadline for the TikTok sale is coming this Wednesday, September 17, with Congress arguing that it is necessary to ban the platform due to national security concerns.
With the call happening later in the week and the sale's deadline coming up, it is possible that TikTok will get shut down again should the Foreign Adversary law prevail.
TikTok US Sale to Finalize This Friday After Trump-Xi Jinping Call
CNBC reported that Trump and Xi are going to talk about the finalization of the TikTok US sale, according to US Treasury Secretary Scott Bessent. It was revealed by the Treasury Secretary that the US and China have already "ironed out" a deal, with the call set to finalize all that is needed for it to push through.
China has reportedly already approved a framework for the TikTok US sale, but it has not yet been revealed who has made the purchase.
That being said, it was confirmed by the South China Morning Post that this new framework would transform TikTok into a US-controlled platform as American law dictates.
TikTok's US Sale Deadline Is on Wednesday—Will it Shut Down?
However, it is important to note that the deadline extension for TikTok's US sale is set to expire this September 17. There are now speculations from ArsTechnica that it could possibly go dark again on the said date as there is no deal yet finalized by both governments.
Earlier this year, TikTok went dark for several hours as the deadline for its sale to an American company did not take place, with the newly sworn-in President Donald Trump immediately stepping in to reinstate the platform. Trump can only do so much as he could only give the deadline extensions, with the third and last leeway taking place last June.
Despite his power, Trump could not completely prevent TikTok's ban in the country for maintaining its ownership status.
Towards the end of June, President Trump made an important announcement about a promising deal with a "very wealthy group" in the US, which he had presented to China for their approval. However, it is known that the negotiations on this particular deal fell through, with Trump not getting the chance to introduce who this group was.
It was not long after the said deal was scrapped when President Trump threatened TikTok's shutdown in the country as China and ByteDance have yet to approve the deals presented to them.
The US President has since been brokering the deal between American groups or companies interested in buying TikTok and presenting it to China, with the final call to approve the deal taking place this Friday.
Originally published on Tech Times
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