President Donald Trump announced in an interview with Fox News that there is “a buyer for TikTok,” as he recently extended the deadline for the popular social media platform’s sale in the United States.
In response to a question regarding the identity of the buyers, Trump revealed that it is a group of wealthy individuals, adding that he would provide more information in “two weeks.”
According to legislation passed by Congress in 2024, TikTok faces the risk of being banned in the U.S. unless its Chinese parent company, ByteDance, divests its ownership. This decision stems from concerns about national security, particularly related to the data privacy of its American users.
Members of both the Republican and Democratic parties in Congress have voiced their worries about potential misuse of data by China or efforts to influence American public opinion.
Trump had previously delayed the deadline twice, with the new deadline set for September 17 following the executive order. This extension allows TikTok to remain accessible to over 170 million users in the United States.
Multiple American media outlets reported that an agreement was reached in early April, outlining the separation of TikTok’s U.S. operations from ByteDance, involving a restructuring of its capital.
Furthermore, the shareholding for non-Chinese investors was increased from 60% to 80%, while ByteDance would retain a 20% stake.
However, Trump’s announcement of tariffs on trade partners, including China, has hindered the completion of the deal from the Chinese side.
On Friday, China confirmed the details of a trade agreement with the United States, indicating that Washington would “lift restrictions,” while Beijing would “review” the goods subject to export controls, particularly rare minerals essential for manufacturing electric batteries and defense systems.
On Sunday, Trump stated, “I think I might need China. I think President Xi Jinping will likely go along with this,” emphasizing the necessity of approval from the top Chinese leadership for the deal.