TikTok: New app for US market apparently planned for September

A spin-off of TikTok's US business had already been negotiated in the spring. The new company was to be majority-owned by US investors. However, the negotiations were put on hold.

China had signaled that it would not approve the deal following Trump's announcement of high tariffs on Chinese goods. The government in Beijing had made it clear that it reserved the final say in the dispute over the forced sale of TikTok's US business.