Donald Trump says he is giving TikTok another 75 days to find a US buyer

TikTok is owned by China’s ByteDance (AP)

President Donald Trump has said he is signing an executive order to keep TikTok running in the US for another 75 days to give his administration more time to broker a deal to bring the social media platform under American ownership.

Congress had mandated that the platform be divested from China by January 19 or barred in the US on national security grounds, but Mr Trump moved unilaterally to extend the deadline to this weekend, as he sought to negotiate an agreement to keep it running.

Mr Trump has recently entertained an array of offers from US businesses seeking to buy a share of the popular social media site, but China’s ByteDance, which owns TikTok and its closely held algorithm, has insisted the platform is not for sale.

ByteDance, which owns TikTok, has insisted the platform is not for sale (AP)

“My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” Mr Trump posted on his social media platform.

“The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days.”

Mr Trump added: “We look forward to working with TikTok and China to close the Deal.”

TikTok, which has headquarters in Singapore and Los Angeles, has said it prioritises user safety, and China’s Foreign Ministry has said China’s government has never and will not ask companies to “collect or provide data, information or intelligence” held in foreign countries.