Trump says wealthy US group is ready to buy TikTok, but needs China's approval
US President Donald Trump has announced that a group of wealthy individuals is ready to purchase TikTok's US operations. In an interview aired on Fox News Sunday Morning Futures with Maria Bartiromo, Trump said he plans to disclose the identities of the buyers within the next two weeks.'We have a buyer for TikTok, by the way,' Trump stated. 'I think I'll probably need China's approval. I think President Xi will probably do it. It's a group of very wealthy people,' Trump added.advertisementAs reported by Reuters, Trump noted that the proposed sale may require the endorsement of Chinese authorities. ByteDance, TikTok's Beijing-based parent company, remains in control of the app's global operations. The US president said he believes Chinese President Xi Jinping will likely support the deal.
A potential agreement to restructure TikTok's US business under American ownership was in development earlier this year. That plan involved converting TikTok into a US-based company controlled by domestic investors. However, the transaction was delayed when China signalled that it would not approve it, just days after Trump announced new tariffs on Chinese imports.Despite these hurdles, Trump extended the deadline for a sale multiple times.Trump acknowledged TikTok's influence on young American voters, crediting the platform for increasing his appeal among youth during the 2024 presidential race.The President has maintained a more positive stance towards the app, in contrast with his earlier efforts to ban or force its sale. More details on the potential buyers and the deal structure are expected to emerge in the coming weeks.- EndsWith inputs from ReutersTune InMust Watch
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Hindustan Times
34 minutes ago
- Hindustan Times
How will the Dalai Lama's successor be chosen? Explained
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Indian Express
36 minutes ago
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Time of India
37 minutes ago
- Time of India
China lifts nearly 2-year ban on seafood from Japan over Fukushima wastewater
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