The Trump administration on Wednesday gave the short-form video app’s Chinese owner, ByteDance, until December 4 to conclude a proposed takeover deal by Oracle and Walmart, according to a spokesperson for the Treasury department.
“The Committee on Foreign Investment in the United States (CFIUS) has granted ByteDance a one-week extension…to allow time to review a revised submission that the Committee recently received,” the spokesperson said.
TikTok did not immediately respond to a request for comment.
Both of those measures have been temporarily blocked by federal judges after TikTok and TikTok content creators sued in separate cases to prevent them from going into effect.
ByteDance’s proposed solution to the order, the deal with Walmart and Oracle, would see TikTok reorganized as a new, global company headquartered in the United States, with US investors accounting for a majority of the new company’s ownership.
For now, until next Friday, TikTok users will still be able to access the app while the Trump administration’s ban remains suspended due to litigation.