Trump extends TikTok deadline again as promised deal with China looms

Driving the news: The new extension gives TikTok a reprieve until Dec. 16.

• Without it, the long-delayed ban would have kicked in on Wednesday.

The big picture: U.S. officials said this week that there is a framework deal in place with China, which Trump and Chinese leader Xi Jinping are due to discuss Friday.

• The outlines of that deal have not been released, though Treasury Secretary Scott Bessent said Monday the terms would allow the app to retain "Chinese characteristics."

Zoom in: The Wall Street Journal reported Tuesday that U.S. users would be asked to move to a new app, being tested by TikTok engineers, and with a new algorithm for recommending content licensed from TikTok parent ByteDance.

• That algorithm is TikTok's crown jewel, and control over it was seen as key to any deal.
• The new app would be controlled by an entity 80% owned by U.S. businesses, with one board member designated by the U.S. government.

Editor's note: This is a developing story.