Despite Law, US TikTok Ban Likely To Remain On Hold
US President Donald Trump is widely expected to extend the Thursday deadline for TikTok to find a non-Chinese buyer or face a ban in the United States.
It would be the third time Trump put off enforcing a federal law requiring its sale or ban, which was to take effect the day before his January inauguration.
"I have a little warm spot in my heart for TikTok," Trump said in an NBC News interview in early May.
"If it needs an extension, I would be willing to give it an extension."
Trump said a group of purchasers is ready to pay TikTok owner ByteDance "a lot of money" for the video-clip-sharing sensation's US operations.
Trump has repeatedly downplayed risks that TikTok is in danger, saying he remains confident of finding a buyer for the app's US business.
The president is "just not motivated to do anything about TikTok," said independent analyst Rob Enderle.
"Unless they get on his bad side, TikTok is probably going to be in pretty good shape."
Trump had long supported a ban or divestment, but reversed his position and vowed to defend the platform after coming to believe it helped him win young voters' support in the November election.
"Trump's not really doing great on his election promises," Enderle maintained.
"This could be one that he can actually deliver on."
Motivated by national security fears and belief in Washington that TikTok is controlled by the Chinese government, the ban took effect on January 19, one day before Trump's inauguration, with ByteDance having made no attempt to find a suitor.
TikTok "has become a symbol of the US-China tech rivalry; a flashpoint in the new Cold War for digital control," said Shweta Singh, an assistant professor of information systems at Warwick Business School in Britain.
"National security, economic policy, and digital governance are colliding," Singh added.
The Republican president announced an initial 75-day delay of the ban upon taking office.
A second extension pushed the deadline to June 19.
As of Monday, there was no word of a TikTok sale in the works.
Trump said in April that China would have agreed to a deal on the sale of TikTok if it were not for a dispute over tariffs imposed by Washington on Beijing.
ByteDance has confirmed talks with the US government, saying key matters needed to be resolved and that any deal would be "subject to approval under Chinese law".
Possible solutions reportedly include seeing existing US investors in ByteDance roll over their stakes into a new independent global TikTok company.
Additional US investors, including Oracle and private equity firm Blackstone, would be brought on to reduce ByteDance's share in the new TikTok.
Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.
Uncertainty remains, particularly over what would happen to TikTok's valuable algorithm.
"TikTok without its algorithm is like Harry Potter without his wand -- it's simply not as powerful," said Forrester Principal Analyst Kelsey Chickering.
Meanwhile, it appears TikTok is continuing with business as usual.
TikTok on Monday introduced a new "Symphony" suite of generative artificial intelligence (AI) tools for advertisers to turn words or photos into video snippets for the platform.
"With TikTok Symphony, we're empowering a global community of marketers, brands, and creators to tell stories that resonate, scale, and drive impact on TikTok," global head of creative and brand products Andy Yang said in a release.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
2 hours ago
- Int'l Business Times
Bahaa Hariri and the Battle for Lebanon's Future
During a golden age, Beirut was known as the "Paris of the Middle East" —a cosmopolitan mecca that gleamed with fancy restaurants and hotels. The fashion magazine Vogue went so far as to label the Lebanese capital a "jet-setters' playground," with a social scene to rival wealthy European capitals. That was in the 1970s, before the city became synonymous with bombs and hostages. Today, the notion of Beirut as a holiday destination seems as remote as Donald Trump's vision of a blood-soaked Gaza becoming a Mediterranean Riviera. At the country's only international airport, officials spend considerably more time worrying about who or what might be coming from Iran than processing tourists. For while the international spotlight is trained on Hamas, Tehran is quietly stepping up support for its other proxy: Lebanese Hezbollah. Just what might be concealed on flights to Beirut from Tehran is a question that security personnel have not always asked. Until recently, airport staff were sometimes instructed to turn a blind eye. Hezbollah remains a powerful political and military force in Lebanon, and it was easier not to look too hard for hidden arms and money. Some change is underway, as a new Lebanese government seeks to position itself as a key player in the struggle to bring peace to the region. Confronting Hezbollah is critical—for as long as this Iranian proxy has weapons and cash, it will expand to fill any gap created by a diminished Hamas. For now, Hezbollah remains woven into the fabric of Lebanese society, exerting a powerful military and political influence. The worry among those who understand the complexities of Lebanese politics is that the Lebanese government is neither serious about tackling the Shia militia nor capable of doing so. Some 4,000 Lebanese were killed when Israel turned its fire on Hezbollah in the wake of the October 7 attacks, taking out much of the militia's arsenal in Lebanon. The new prime minister has made weakening Hezbollah a central plank of his agenda. Certainly, he is making the right noises. Among the high-profile measures he has taken are suspending flights from Iran, purging suspect airport staff, and confiscating illicit arms and money. The Lebanese government recently trumpeted the seizure of more than 50lbs of gold at the airport as evidence that Iran can no longer funnel weapons and cash into Lebanon this way. Meanwhile, the army is working to dismantle Hezbollah positions and weapon stockpiles in southern Lebanon (a condition of a ceasefire with Israel last year). However, Hezbollah chief Naim Qassem has insisted he will "not let anyone" neuter his "resistance" movement. Lebanese president Joseph Aoun has admitted that disarming Hezbollah is a "delicate" matter, that "requires dialogue" —a comment that hints at the scale of the challenge. Amid simmering geopolitical tensions, it is—as always—ordinary people who suffer most. Lebanon's economy is tanking. The World Bank estimates that GDP shrank by more than 7pc last year, and that the Israeli assault did some US$8bn worth of damage to a country already mired in economic and social challenges. Lebanese politicians have pleaded for international help. Is anyone listening? While world leaders, foreign policy makers, and humanitarian organisations focus on the conflict in Gaza, few seem to care about what is happening in neighbouring Lebanon. Even fewer seem to recognise how critical this beautiful country is to the bigger picture. As long as Tehran is able to use Lebanon as a power base, a weakened Hamas can easily rise again. As Lebanese voters dream of a different future, one powerful family name continues to loom large: Hariri. It seems fitting that efforts to stop the flow of weapons and gold from Iran are focused on Rafic Hariri International Airport. It is named after the Lebanese prime minister who was assassinated by Hezbollah. Hariri's death, in a suicide bombing in Beirut in 2005, sent shockwaves around the world and brought a brutal end to his mission to bring peace to the Levant. During his first administration, he played a key role in the 1989 Taif Agreement, which ended the 15-year-long Lebanese civil war. During his second premiership, in 2000, he successfully negotiated Israeli withdrawal from southern Lebanon, ending 18 years of occupation. He also dramatically improved his country's relations with Syria. Following Hariri's assassination, it was his second son, Saad, who picked up the torch, twice serving as prime minister of Lebanon (between 2009 and 2011; and 2016 and 2020). But what of the first-born son, Bahaa Hariri? To date, the billionaire entrepreneur has preferred business and philanthropy to frontline politics, but those who know him say he despairs at the state of his home country and has been increasingly concerned about the uncontrolled level of corruption that has collapsed the Lebanese economy. Determined to continue his father's legacy, Bahaa Hariri remains in touch with business leaders and continues to maintain his political office in Lebanon. While others play lip service to the mission, for Hariri, it is personal. Might his time be drawing near?
Int'l Business Times
3 hours ago
- Int'l Business Times
Bank Of Japan Holds Rates, Says To Slow Bond Purchase Taper
The Bank of Japan kept interest rates unchanged Tuesday and said it would taper its purchase of government bonds at a slower pace amid concerns about the effect of trade uncertainty on the world's number four economy. The central bank spent years buying up Japanese Government Bonds (JGBs) to keep yields low as part of an ultra-loose monetary policy aimed at banishing stagnation and harmful deflation. But it began moving away from that programme last year as inflation began to pick up and the yen weakened, and hiked interest rates for the first time since 2007 and began winding down its JGB purchases. It has since then lifted borrowing costs several times to 0.5 percent, their highest level in 17 years, and continued to buy fewer bonds. However, analysts say uncertainty sparked by US President Donald Trump's trade war has led officials to hold off more hikes, and on Tuesday they held rates again, while saying they would slow the pace of JGB reductions. Purchases will be cut in principle "by about 200 billion yen each calendar quarter from April-June 2026" -- from around 400 billion yen ($2.8 billion) per quarter. Carol Kong, an analyst at the Commonwealth Bank of Australia outlined the possible reasons for the decision ahead of the release of the BoJ policy statement. "Slowing the bond taper will help keep interest rates lower than otherwise, providing support to the economy amid heightened trade uncertainty," she told AFP. Speculation of such a move "intensified after a surge in the 'super long' Japanese Government Bond (JGB) yields in recent months", Kong added. The yen weakened on Tuesday, with the dollar buying 144.80 yen around midday, compared with around 144.30 yen on Monday, with the BoJ's main rate much lower than the US Federal Reserve's 4.25-4.5 percent. "The recent softening of the yen could already partly reflect expectations for a cautious policy update from the BoJ... alongside negative spillovers for Japan from the Middle East conflict," Lee Hardman of MUFG had said before the decision. The BoJ also highlighted the risks ahead for the economy, saying "growth is likely to moderate, as trade and other policies in each jurisdiction lead to a slowdown in overseas economies and to a decline in domestic corporate profits and other factors". However, "factors such as accommodative financial conditions are expected to provide support", it added. Kong added that the bank "will likely hold off on rate hikes until there is further clarity on US trade policy". Japan, a key US ally and its biggest investor, is subject to the same 10 percent baseline tariffs imposed on most nations plus steeper levies on cars, steel and aluminium. Trump also announced an additional 24 percent "reciprocal" tariff on the country's goods in early April but later paused it along with similar measures on other trading partners. Prime Minister Shigeru Ishiba said Monday there had been no breakthrough on a trade deal after talks with Trump on the sidelines of the G7 summit in Canada. "We still believe the Bank may hike rates in the second half of the year as it remains committed to normalising monetary policy," said Katsutoshi Inadome of SuMi TRUST. "We expect that domestic demand will remain solid and that there is a chance economic conditions will improve to the point where the BoJ can consider interest hikes," he said.
Int'l Business Times
4 hours ago
- Int'l Business Times
Israel, Iran Trade Missile Fire As Trump Warns Tehran To 'Evacuate'
Israel and Iran traded missile fire for a fifth straight day Tuesday, as US President Donald Trump warned Tehran residents to "immediately evacuate" and left a G7 summit early. Despite growing calls for the longtime foes to end hostilities, neither Israel nor Iran showed any signs of cutting short the missile blitz kicked off Friday, when Israel launched an unprecedented series of aerial raids targeting Iranian nuclear and military facilities. After a new wave of Israeli strikes on Iran's capital -- including a dramatic attack on a state TV building -- both countries activated their missile defence systems overnight into Tuesday, with Israel's army briefly urging residents to seek shelter from incoming Iranian missiles. The Chinese embassy in Tel Aviv warned its citizens to leave the country immediately, as the United States said it was deploying "additional capabilities" to the Middle East, according to Pentagon chief Pete Hegseth. The aircraft carrier USS Nimitz departed Southeast Asia on Monday after cancelling plans to dock in Vietnam, amid reports it was headed to the Middle East to boost the US presence there. But a White House spokesman stressed that US forces in the Middle East remained in a defensive posture, despite the flurry of activity. Trump has repeatedly declined to say if the United States would participate in Israeli military action, although he says it was not involved in the initial strikes. After calling on the two sides to make a deal, the US leader issued an extraordinary warning on his Truth Social platform. "Everyone should immediately evacuate Tehran!" Trump wrote without offering further details, before cutting short his attendance at the G7 in Canada to head back to the White House. After decades of enmity and a prolonged shadow war, Israel launched a surprise aerial campaign against Iran last week, with the stated aim of preventing Tehran from acquiring atomic weapons -- an ambition it denies. Iran has launched several waves of missiles in retaliation for Israel's attacks, with Iran's Revolutionary Guards boasting Monday evening that the attacks would continue "without interruption until dawn". The sudden flare-up has sparked fears of a wider conflict, with Trump urging Iran back to the negotiating table after Israel's attacks derailed ongoing nuclear talks. US Ambassador to Israel Mike Huckabee said a missile strike lightly damaged a building used by the American embassy in Tel Aviv, while the US State Department warned citizens on Monday not to travel to Israel due to security concerns. At least 24 people have been killed in Israel so far and hundreds wounded, according to the prime minister's office. Israel's strikes have killed at least 224 people, including top military commanders, nuclear scientists and civilians, according to Iranian authorities. Netanyahu told a press conference Monday evening that Israel was eliminating Iran's security leadership "one after the other". "We are changing the face of the Middle East, and that can lead to radical changes inside Iran itself," he said. International calls for calm have mounted. At the Group of Seven summit in the Canadian Rockies, leaders including Trump called Monday for "de-escalation" while stressing Israel had the right to defend itself. "We urge that the resolution of the Iranian crisis leads to a broader de-escalation of hostilities in the Middle East, including a ceasefire in Gaza", G7 leaders said in a joint statement that also affirmed "Iran can never have a nuclear weapon". China called on Israel and Iran to both "immediately take measures to cool down the tensions" and avoid plunging the region into deeper turmoil. The United States and Iran had engaged in several rounds of indirect talks on Tehran's nuclear programme in recent weeks, but Iran said after the start of Israel's campaign that it would not negotiate while under attack. Iranian Foreign Minister Abbas Araghchi said Monday that "absent a total cessation of military aggression against us, our responses will continue". "It takes one phone call from Washington to muzzle someone like Netanyahu. That may pave the way for a return to diplomacy," he wrote on X. A senior US official told AFP Trump had intervened to prevent Israel from carrying out an assassination of Iran's supreme leader, Ayatollah Ali Khamenei. But Netanyahu did not rule out the possibility when asked about the reports during an interview with ABC News. "It's not going to escalate the conflict, it's going to end the conflict," he said. The site of an Iranian missile attack in central Tel Aviv on June 16, 2025 AFP
