Latest news with #ByteDance
Miami Herald
an hour ago
- Business
- Miami Herald
Trump says he will start talks with China on TikTok deal
President Donald Trump late Friday said that the United States 'pretty much has a deal' for an American company to acquire the U.S. branch of TikTok, adding that he intended to restart talks next week with China to approve the deal. 'We're going to start Monday or Tuesday talking to China,' Trump told reporters traveling on Air Force One on Friday night as it headed to Bedminster, New Jersey. 'We think we probably have to get it approved by China. Not definitely, but probably.' He added, 'I think the deal is good for China, and it's good for us. It's money, it's a lot of money.' Trump did not say who the potential buyer was. The president said earlier in the week that he had found a buyer for the U.S. branch of TikTok, the popular Chinese-owned video app that faces a ban adopted by Congress over national security concerns. A 2024 law required that the app effectively be banned in the United States unless its parent company, ByteDance, sold it to a non-Chinese company. Congress was concerned that sensitive user data could end up in the hands of the Chinese government. It was not clear if the deal would comply with some of the requirements Congress adopted for a sale of TikTok, particularly if ByteDance chose not to share the app's algorithm with the U.S. buyers. Private equity firms have been hesitant to invest in a deal without some form of indemnification. Trump has declined to enforce the law banning the app, which was passed by large bipartisan majorities and unanimously upheld by the Supreme Court. Shortly after being sworn in, Trump issued an executive order directing the Justice Department to suspend enforcement of the TikTok ban and has since repeatedly extended it. Attorney General Pam Bondi has told tech companies that Trump has the constitutional power to effectively set aside laws. This article originally appeared in The New York Times. Copyright 2025
Indian Express
5 hours ago
- Business
- Indian Express
Trump says US will start talks with China on TikTok deal this week
U.S. President Donald Trump said on Friday he will start talking to China on Monday or Tuesday about a possible TikTok deal. He said the United States 'pretty much' has a deal on the sale of the TikTok short-video app. 'I think we're gonna start Monday or Tuesday…talking to China, perhaps President Xi or one of his representatives, but we would we pretty much have a deal,' Trump told reporters on Air Force One. Last month, Trump extended to September 17 a deadline for China-based ByteDance to divest the U.S. assets of TikTok. A deal had been in the works this spring to spin off TikTok's U.S. operations into a new U.S.-based firm, majority-owned and operated by U.S. investors, but it was put on hold after China indicated it would not approve it following Trump's announcements of steep tariffs on Chinese goods. Trump said the United States will probably have to get a deal approved by China. When asked how confident he was that China would agree to a deal, he said, 'I'm not confident, but I think so. President Xi and I have a great relationship, and I think it's good for them. I think the deal is good for China and it's good for us.'
India Today
12 hours ago
- Business
- India Today
Trump says TikTok deal talks with China could begin next week
US President Donald Trump said that discussions with China over a potential deal involving TikTok are expected to start as early as Monday or Tuesday. Speaking aboard Air Force One, Trump said the US "pretty much" has a deal in place and suggested talks could include Chinese President Xi Jinping or a representative.'I think we're gonna start Monday or Tuesday talking to China, perhaps President Xi or one of his representatives, but we pretty much have a deal,' Trump said. advertisementHe also mentioned the possibility of a personal meeting with Xi, saying either leader might travel to the other's country after they extended mutual invitations last month. The announcement comes after Trump signed his third executive order, delaying the enforcement of a potential ban on TikTok in the US. This order gives its China-based parent company, ByteDance, until September 17 to finalise the divestiture of its US operations. The popular short-video app has over 170 million users in the United States.A deal to spin off TikTok's US business into a new, majority American-owned company had been progressing earlier this year but was stalled after China pushed back, particularly in the wake of Trump's announcement of new tariffs on Chinese imports. Trump acknowledged that any final deal would likely need Beijing's asked about China's willingness to agree, Trump said, 'I'm not confident, but I think so.' 'President Xi and I have a great relationship. I think the deal is good for China and good for us,' he responded with a statement thanking both President Trump and Vice President JD Vance, pledging to continue working with Vance's office to finalize an first intervened in the matter shortly after returning to office, following a Supreme Court ruling upholding the TikTok ban. He issued an initial executive order, followed by a second one in April, setting a June 19 deadline. The latest extension, issued in June, marks the third delay, giving ByteDance another 90 days to reach a deal or face a US ban.- Ends
Yahoo
13 hours ago
- Business
- Yahoo
Trump says he found a TikTok buyer
President Trump said in a Sunday interview that he has found a buyer for TikTok, the popular video-sharing app Congress voted to ban if its China-based parent company, ByteDance, did not divest from the platform. 'We have a buyer for TikTok, by the way,' Trump said in an interview on Fox News's 'Sunday Morning Futures' with Maria Bartiromo. 'I think I'll need probably China approval, and I think President Xi will probably do it,' he added, referring to China President Xi Jinping. Asked whom the buyer is, Trump said, 'I'll tell you in about two weeks.' The president added that the buyers are 'very, very wealthy people.' 'It's a group of very wealthy people.' The law requiring ByteDance to divest from the platform or face a ban on U.S. networks and app stores was signed by former President Biden last year. Trump signed an executive order earlier this month extending the divestiture deadline by 90 days. The new deadline is Sept. 17. The order instructed the Department of Justice not to enforce the law or impose penalties related to it, and it marked Trump's third extension since taking office in January. The Supreme Court upheld the divest-or-ban law in early January, prompting the measure to take effect Jan. 19, the day before Trump was sworn in for his second term. The platform was brought back online in the U.S. hours later, after Trump vowed to sign an executive order once back in office to give the company an extension. Trump made good on that promise, and his first order gave ByteDance 75 days beyond the January deadline to divest from the platform amid national security concerns. A deal was finalized by the White House in early April but was never completed amid Trump's tariff fight with China. The president then signed another executive order in April, extending the deadline by another 75 days, which was set to expire June 19, when he issued the most recent extension. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
13 hours ago
- Business
- Yahoo
Trump signs order extending TikTok ban deadline
President Trump signed an executive order Thursday extending the deadline for TikTok's parent company to divest the popular video sharing app by 90 days. The order punts the deadline for China-based ByteDance to Sept. 17. The most recent deadline was Thursday. 'I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025). Thank you for your attention to this matter!' Trump wrote in a post on Truth Social, attaching a screenshot of the order. The order instructs the Department of Justice not to enforce the law or impose penalties related to it. 'We are grateful for President Trump's leadership and support in ensuring that TikTok continues to be available for more than 170 million American users and 7.5 million U.S. businesses that rely on the platform as we continue to work with Vice President Vance's Office,' TikTok said in a statement following Thursday's order. White House press secretary Karoline Leavitt confirmed earlier this week Trump planned to sign another extension, telling reporters the president 'does not want TikTok to go dark.' 'This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure,' Leavitt said in a statement Tuesday. Trump himself hinted at the extension earlier this week. When asked Monday whether he would give the popular video-sharing platform another extension, the president told reporters aboard Air Force One, 'Probably, yeah.' 'Probably have to get China approval, but I think we'll get it,' Trump said as he traveled back from the Group of Seven summit in Canada. 'I think President Xi [Jinping] will ultimately approve it.' The order marks the third extension from Trump since he took office in January. The law requiring ByteDance to divest from the platform or face a ban on U.S. networks and app stores was signed by former President Biden last year. The Supreme Court upheld the divest-or-ban law in early January, prompting the law to take effect January 19, the day before Trump was sworn in for his second term. The platform was brought back online hours later after Trump vowed to sign an executive order once back in office to give the company an extension. Trump made good on that promise, and his first order gave ByteDance 75 days beyond the January deadline to divest from the platform amid national security concerns. A deal was finalized by the White House in early April, but was never completed amid Trump's tariff fight with China. The president then signed another executive order in April, extending the deadline by another 75 days, which was set to expire Thursday. Updated at 12:55 p.m. EDT Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
