President Donald Trump on Tuesday extended the deadline for ByteDance to divest TikTok's U.S. business, which will be owned by an investor consortium that includes Oracle and Silver Lake, CNBC's David Faber reported.

It's the fourth time Trump has extended the deadline. The extension, as described in an executive order , precludes the Department of Justice from enforcing a national security law that would effectively ban TikTok in the U.S. until Dec. 16.

U.S. Treasury Secretary Scott Bessent revealed on Monday that a "framework deal" had been reached involving TikTok. Under the national security law, which would have come into effect on Wednesday, app store operators like Apple and Google and internet service providers would be penalized for providing service

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