The clock just never seems to run out for TikTok.
A federal ban of the wildly popular social media app is set to kick in later this week, unless it reaches a deal to sell itself to a buyer deemed fit by US officials, or it's given yet another extension to do so by President Donald Trump.
Many observers are betting on the extension. The New York Post and the Wall Street Journal both published stories earlier this month quoting anonymous sources who said Trump planned to issue one. The ban was originally set to take affect back in January, but has since been pushed back twice by Trump, who has both admitted a fondness for TikTok and repeatedly promised to not take the app away from Americans.
The upcoming deadline falls on Thursday, which happens to be Juneteenth, a federal holiday.
Both TikTok and the Chinese government have long opposed a sale of the company's US operations, and it remains unclear if their positions have changed. In addition, in the months since Trump took office, his administration and China have become mired in a tariff war that has heightened tensions between the two countries and shaken global markets.
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Lawmakers in both political parties have long voiced concerns that TikTok could be a threat to national security and could be used by the Chinese government to spy on Americans or spread misinformation to further China's agenda. TikTok continues to deny those accusations.
The law requiring the sale was passed by Congress last year with overwhelming bipartisan support and signed into law by then-President Joe Biden. Free speech advocates and other groups sued to overturn the law on First Amendment grounds, but it was upheld by the US Supreme Court in January.
So what's next for TikTok? Here's what you need to know.
Watch this: US vs. TikTok: What Happens Next 02:15
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