Trump Claims Buyers Found for TikTok, Awaits China's Approval
Summary
President Donald Trump has announced that a buyer has been secured for the U.S. operations ofTikTok, the popular social media platform facing a potential ban due to national security concerns. Speaking in aFox Newsinterview, Trump stated that a 'very wealthy group of people' has agreed to the purchase, with their identities expected to be disclosed in 'about two weeks.'
The announcement comes amidst ongoing negotiations and repeated deadline extensions for TikTok's Chinese parent company,ByteDance, to divest its U.S. assets. The latest extension, signed by Trump in mid-June, pushed the deadline to September 17. Trump expressed confidence that Chinese President Xi Jinping would likely approve the deal, a crucial step for any agreement to proceed. Trump claims in the new interview that a group of 'very wealthy people' are coming together to acquire the social media app. He said, 'We have a buyer for TikTok, by the way. I think I'll need probably China's approval. I think President Xi [Jinping] will probably do it.' He declined to share any further in the interview following the announcement.
Despite previous attempts to broker a sale that fell apart, including one in April reportedly due to China's withdrawal after Trump's tariff announcements, this latest claim reignites hopes for TikTok's long-term future in the U.S. The platform, which boasts over 170 million active American users, has been a significant point of contention in U.S.-China tech relations, but Trump has also acknowledged its value, particularly in his 2024 election campaign strategy.
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