The law provides for a one time 90 day extension if a deal is in the works.
Trump didn’t invoke that, he just said, twice now, that he’s not going to enforce it for 75 days. This is arguably in violation of the so called ‘take care’ clause of the constitution but someone with standing would probably have to sue him to stop it. I’m not sure who besides Congress has such standing. Maybe a TikTok competitor? I don’t know.