US not extending TikTok divestiture deadline, but talks will continue

The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok’s U.S. assets, but talks will continue over the short video-sharing app’s fate, two sources briefed on the matter said.

A Treasury Department representative said late on Friday the Committee on Foreign Investment in the United States (CFIUS) “is engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks.”

Last week, CFIUS granted TikTok parent ByteDance a one-week extension until Friday over the order to shed TikTok’s U.S. assets.