Trump’s Team Sets Hard Deadline for TikTok U.S. Takeover: September 17 or Shutdown

Howard Lutnick, Donald Trump’s Commerce Secretary, made it clear: TikTok’s U.S. future depends on China giving up control fast.

“We’ve made the decision. You can’t have Chinese control and have something on 100 million American phones,” Lutnick told CNBC. “Then TikTok is going to go dark.”

Under a law effective since January 19th, 2025, it’s illegal for U.S. companies to support TikTok unless a foreign adversary, like China, owns less than 20%. Currently, ByteDance, TikTok’s parent company, has Chinese founders holding 20%, while 60% belongs to global investors like BlackRock.

Trump has delayed the ban’s enforcement until September 17th, saying a group of “very, very wealthy people” could buy TikTok’s U.S. operations. Still, no names have been revealed.

“Basically, Americans will have control,” Lutnick said. “Americans will own the technology. Americans will control the algorithm. That’s something Donald Trump is willing to do.”

TikTok CEO Shou Zi Chew previously insisted ByteDance isn’t tied to China’s government. But Congress and the White House aren’t convinced.