The sale of Chinese-owned video-sharing app TikTok to a company in the United States is "off the table" for now, according to New York Post columnist Charles Gasparino.
Gasparino reported Wednesday on X that White House officials "now concede the potential @tiktok_us deal — sale to a US company by the Chinese — is off the table for the foreseeable future and maybe forever as we go to a trade war focused totally on the Chinese."
President Donald Trump said Friday that he is extending the deadline for TikTok to find a U.S. buyer by 75 days to give his administration more time to negotiate an agreement to keep it running under American ownership. Congress had mandated that the platform divest from China by Jan. 19 or be banned in the U.S. as a matter of national security.
Trump on Wednesday raised U.S. tariffs on China to 125%, hours after Beijing levied tariffs of 84% on American imports and vowed to "fight to the end" in an escalating trade battle between the world's two biggest economies.