President Donald Trump boasted that he would save the popular social media platform TikTok from a ban in the U.S. And that still could happen. However, according to those close to the talks, negotiations between the U.S. and TikTok's parent company, the China-based ByteDance, have stalled.

President Trump has said in a social media post that there is "great interest" in TikTok's sale and that it would be "wonderful" for both the US and China.

TikTok’s Chinese owner is slow-rolling negotiations for a sale, as the Trump administration seeks to broker a deal.

Negotiations over the sale of TikTok's U.S. operations appear to be at an impasse as its Chinese parent company, ByteDance, delays progress while awaiting a green light from Beijing. President Donald Trump's numerous corporate allies are racing to broker a deal with an American buyer.

As U.S. President Donald Trump's 10% tariffs on Chinese imports went into effect early Tuesday, Beijing responded with a swaft of retaliatory economic measures targeting American companies.

President Trump’s order imposing additional tariffs on China this week also suspended a popular trade exemption known as the de minimis provision that has let bargain platforms such as Shein and Temu skirt import duties and red tape on low-value packages from China.

China unveiled multiple countermeasures on Tuesday, immediately after new U.S. tariffs on its imports took effect. This marks the latest development in an escalating trade dispute that began with President Donald Trump’s weekend announcement of broad tariffs targeting multiple trading partners.