Commerce Secretary Howard Lutnick on Friday said President Trump wanted to block deals on Tiktok's future ownership under the current deadline, and the president “doesn't want to ask for an extension.”
“So it's in Donald Trump's hands. He's going to decide how he wants to play it,” Lutnick said in an interview with Fox Business Network on Friday. “And you know Donald Trump. He wants to do it in the time frame he's given.”
“He's never wanted to seek extensions because he's the best businessman who knows how to do things,” Rutnik continued. “He's going to try and get it done in the time frame he has, so it's number one.”
Lutnick's comments will come a few weeks before the April 5th deadline. The deadline for Tiktok's China-based parent company requires that they sell from a popular video sharing app or face the possibility of a ban in the US.
The deadline was set in January with Trump's executive order, giving a 75-day ordinance to sell from Tiktok's US division amid national security concerns.
The law banning Tiktok first came into effect on January 19th – the day before Trump was sworn into his second term, the platform went dark for several hours.
The platform has returned quickly online after pledging to issue executive orders when Trump took office to give the company an extension.
Lutnick said there was no Gauranty to mediate the deal by April 5th.
“He's going to do his best. He's not controlling everything, but he'll do his best,” he said.
Last week, Trump said he would “probably” extend the deadline if the deal doesn't reach time.
“We have a lot of interest in Tiktok. China plays a role and we hope that China approves the deal,” Trump told reporters at the time. “But they'll play a role.”
“But we have a lot of interest in Tiktok,” the president repeatedly said.
Lutnick was also asked about Trump's plan to create a sovereign wealth fund that it proposed could be used to buy Tiktok.
The Secretary of Commerce did not provide many details, but said he “makes a lot of money and doesn't take risks.”
Many buyers have expressed interest in purchasing the US division of Tiktok. The list includes a bid from YouTube star Mrbeast and a joint proposal from former Los Angeles Dodgers owner Frank McCourt and “Shark Tank” star and investor Kevin O'Leary.
information Reported on Thursday The oracle is also a major candidate to help Tiktok execute.
