The countdown for TikTok is approaching its conclusion. U.S. Commerce Secretary Howard Lutnick, in a discussion with CNBC on Thursday, addressed the TikTok arrangement with China, which awaits approval from Chinese officials. “China can retain a small portion […] but fundamentally, Americans will have oversight, Americans will possess the technology, and Americans will direct the algorithm,” he remarked. “If that agreement receives the green light from the Chinese, then that agreement will proceed; if they deny it, then TikTok will cease operations.”

Lutnick mentioned the possible acquisition of the majority of TikTok by U.S. investors, a transaction that President Trump recently suggested was almost finalized, with a U.S. buyer “confirmed.” However, Trump emphasized that Chinese authorization is crucial, and it seems his administration’s tolerance is diminishing. “Those decisions are forthcoming very shortly, so let’s observe how the Chinese respond,” Lutnick remarked.

TikTok has encountered a climate of instability for several years, with Donald Trump initially advocating for a ban on the platform in 2020 during his first administration. The app was ultimately prohibited under the Biden-signed PAFACA (Protecting Americans from Foreign Adversary Controlled Applications) act in 2024, but enforcement was continually postponed, first by Biden and later by Trump, who claimed he would not prohibit the app and vowed to negotiate a deal where the U.S. would control at least half of TikTok.