Trump says TikTok buyer found
US President Donald Trump announced in a Fox News interview that a buyer has been found for TikTok, the popular video-sharing platform facing a potential ban in the United States.
The announcement comes after Trump extended the deadline for the sale, now set for September 17, under a law passed by Congress in 2024.
Responding to a question about the buyer’s identity, Trump said it was a group of “very wealthy people,” promising to reveal more details “in about two weeks”.
The 2024 law requires TikTok’s Chinese parent company, ByteDance, to divest its ownership due to national security concerns over data privacy and fears of potential influence operations by Beijing. Lawmakers from both the Republican and Democratic parties have expressed bipartisan concern over China’s access to user data and its ability to sway public opinion in the US.
This marks the third time Trump has extended the sale deadline, keeping TikTok accessible to its more than 170 million US users in the meantime.
US media reports indicate that an agreement was reached in early April outlining the separation of TikTok’s US operations from ByteDance through a restructuring of ownership. Under the proposed deal, non-Chinese investors’ shares would increase from 60 percent to 80 percent, while ByteDance would retain a reduced 20 percent stake.
However, escalating trade tensions, including Trump’s announcement of new tariffs on trading partners, including China, have delayed the deal’s approval from the Chinese side.
On Friday, China confirmed the details of a broader trade agreement with the US, saying Washington would “lift restrictions,” while Beijing would “review” export controls on sensitive materials such as rare earth elements essential for electric batteries, missile systems, satellites, and radar technology.
Trump added Sunday, “I think I’ll probably need China. I believe President Xi will go ahead with it,” referring to the need for final approval from Chinese leader Xi Jinping to complete the deal.
