“The Chinese government will, according to law, examine and approve relevant matters involving TikTok, such as the export of technology as well as the licensing of intellectual property,” Wang said, adding that Washington and Beijing agreed that Bytedance would entrust a partner with TikTok U.S.’s user data and content security.

TikTok’s U.S. business would be controlled by an investor consortium including Oracle, Silver Lake and Andreessen Horowitz under a framework the U.S. and China are finalizing as talks shift into high gear, according to people familiar with the matter…

On TikTok, the president keeps effectively saying that he’s decided he’s not going to enforce federal law in this area for the next few months.

TikTok’s U.S. operations would be acquired by a consortium that includes Oracle under a deal that President Trump is set to discuss with Chinese President Xi Jinping.

The agreement requires TikTok's American assets to be transferred to U.S. owners from China's ByteDance, potentially resolving a saga that has lingered for nearly a year.

The latest extension follows news earlier this week that the U.S. and China reached a "framework" deal for TikTok. CNBC's David Faber reported yesterday that TikTok's U.S. arm will be owned by a consortium of investors including Oracle and Silver Lake. The deal is expected to close in 30 to 45 days.

The rocky rollout of the president’s official presence on the social platform showcases the challenges he faces among younger people online.

President Donald Trump said on Tuesday that the U.S. and China have a deal that would keep TikTok operating in the United States, in an agreement that marks a breakthrough in months-long talks between the world's two biggest economies.