A deal had been in the works this spring that would spin off TikTok's U.S. operations into a new U.S.-based firm, majority-owned and operated by U.S. investors. This stalled after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods.

A deal had been in the works this spring that would spin off TikTok’s U.S. operations into a new U.S.-based firm, majority-owned and operated by

TikTok will go dark in the U.S unless China agrees to a deal that giving U.S. owners majority control over the video app, Commerce Secretary Howard Lutnick said.