The deadline for the TikTok moratorium has been extended by 75 days by President Donald Trump.

On Friday, Trump published a post on Truth Social in which he announced that he would be signing an executive order to provide additional time to finalize a deal.

Only one day prior to the ban’s implementation, the announcement was made.

Trump wrote, “My administration has been working diligently to secure a deal to save TikTok, and we have made significant progress.”

“I am signing an Executive Order to maintain TikTok’s operations for an additional 75 days, as the Deal necessitates additional effort to guarantee that all required approvals are obtained.”

Trump has extended the deadline for the TikTok ban for the second time with today’s announcement.

ByteDance was originally required to divest TikTok’s U.S. operations by January 19, as required by a law that was signed by former President Joe Biden last year.

Nevertheless, on his inaugural day in office, Trump issued an executive order that granted the company an additional 75 days to negotiate a contract.

TikTok was momentarily suspended and removed from the Apple and Google app stores prior to the executive order’s signing, but it was subsequently reinstated.

On Wednesday, Bloomberg reported that Trump evaluated a proposal from a consortium of U.S. investors, including Oracle, Blackstone, and Andreessen Horowitz.

The proposal is reportedly a top contender for a prospective agreement. Amazon, Perplexity, Walmart, AppLovin, and the Project Liberty consortium of billionaire Frank McCourt are among the other interested parties.

It is important to mention that any agreement must be approved by the Chinese government in order to be consummated.

Furthermore, ByteDance has not expressed any interest in selling TikTok or reducing its stake in the social network, as mandated by the TikTok ban law.

Trump’s announcement of tariffs, which included a 34% tariff rate on China, occurred just a few days prior to this action. Trump has previously indicated that he may lower tariffs on China in order to facilitate a TikTok agreement.

In his post announcing the extension of the TikTok prohibition deadline, Trump stated, “We hope to continue working in Good Faith with China, who I understand are not very happy about our Reciprocal Tariffs — Necessary for Fair and Balanced Trade between China and the U.S.A.”

“This demonstrates that tariffs are the most potent economic instrument and are of paramount importance to our national security. We do not desire for TikTok to become inactive. We are eager to collaborate with TikTok and China in order to finalize the agreement. I am grateful for your consideration of this issue.”

China announced on Friday that it will impose a 34% tariff on all U.S. product imports in response to the tariffs.