TikTok users in the US can breathe a sigh of relief as a further 90 day extension has been gifted by President Trump.
It’s pretty obvious that no one wants TikTok to close in the US, despite the US law last year that required the app to be banned if not divested by Bytedance – The economics of TikTok ($24.2 billion contribution to US GDP) make allowing the app to be entirely banished from the US pretty dire – and to be fair that’s not actually what legislators wanted – they simply want it sold and not, as they stipulate, controlled by the Chinese Government – something that TikTok deny.
The new deadline for a deal to be done has now got until the 17th of September to be finalised.
We are grateful for President Trump’s leadership and support in ensuring that TikTok continues to be available for more than 170 million American users and 7.5 million U.S. businesses that rely on the platform as we continue to work with Vice President Vance’s Office.
– TikTok
The real problem for brands and retailers currently is the constant uncertainty. Should they continue to grow their investment in TikTok (which is pretty hard to turn down), or should they be cautious and wait for a permanent resolution one way or the other. For UK TikTok businesses who have also embraced TikTok US, it’s an even more critical decision – No one wants the platform to suddenly vanish while they have a warehouse full of stock in the US and suddenly have no where to sell it!
