U.S. President Donald Trump said on Wednesday that a buyer is in the process of acquiring the U.S. operations of TikTok, the popular social media app that has faced a potential ban due to national security issues. In an interview with Fox News, Trump said a very wealthy group had agreed to the purchase. He said their names would be revealed in the next two weeks.
The statement came as negotiations continued and the deadline for ByteDance, the Chinese company that owns TikTok, to sell its U.S. stake has been extended several times. In June, Trump signed a new extension until September 17. He also expressed confidence that Chinese President Xi Jinping would approve the deal. Trump said, “There is a buyer for TikTok, but it still needs China’s approval.” He declined to provide further details after that.
There have been failed attempts to sell TikTok, including one in April that fell through after China backed down over tariff issues. But today's new news has renewed hope that TikTok will continue in the U.S. Currently, more than 170 million Americans use the app, which is also important to Trump's campaign in the 2024 elections.
