President Donald Trump on Tuesday extended the deadline for ByteDance to sell TikTok’s United States business until December 16, averting an immediate ban on the popular video app.

The move comes after Treasury Secretary Scott Bessent confirmed a “framework deal” under which about 80 per cent of TikTok’s U.S. unit would be owned by investors including Oracle, Silver Lake and Andreessen Horowitz, according to Wall Street Journal.

The plan would require U.S. users to migrate to a new app.

It is the fourth time Trump has delayed enforcement of an executive order that would have penalized app stores and internet providers for supporting TikTok’s U.S. operations.

Bessent said the commercial terms were settled months ago but delayed by Beijing over trade tensions, adding that Trump’s threat to let TikTok “go dark” pushed China back to the table.

“We were able to reach a series of agreements, mostly for things we will not be doing in the future that have no effect on our national security,” Bessent said Tuesday.