Trump Claims Buyer Found for TikTok, Awaits China's Approval


Abstract

  • President Donald Trump has claimed {that a} “very rich group of individuals” has agreed to purchase TikTok’s U.S. operations, with their identities to be revealed in roughly two weeks
  • This announcement comes amid ongoing deadlines for ByteDance to divest
  • Regardless of previous failed makes an attempt at a sale, this new declare rekindles hopes for TikTok’s continued presence within the U.S.

President Donald Trump has introduced {that a} purchaser has been secured for the U.S. operations of TikTok, the favored social media platform going through a possible ban as a consequence of nationwide safety considerations. Talking in a Fox Information interview, Trump acknowledged {that a} “very rich group of individuals” has agreed to the acquisition, with their identities anticipated to be disclosed in “about two weeks.”

The announcement comes amidst ongoing negotiations and repeated deadline extensions for TikTok’s Chinese language guardian firm, ByteDance, to divest its U.S. belongings. The newest extension, signed by Trump in mid-June, pushed the deadline to September 17. Trump expressed confidence that Chinese language President Xi Jinping would probably approve the deal, a vital step for any settlement to proceed. Trump claims within the new interview {that a} group of “very rich folks” are coming collectively to amass the social media app. He mentioned, “We now have a purchaser for TikTok, by the way in which. I feel I’ll want in all probability China’s approval. I feel President Xi [Jinping] will in all probability do it.” He declined to share any additional within the interview following the announcement.

Regardless of earlier makes an attempt to dealer a sale that fell aside, together with one in April reportedly as a consequence of China’s withdrawal after Trump’s tariff bulletins, this newest declare reignites hopes for TikTok’s long-term future within the U.S. The platform, which boasts over 170 million lively American customers, has been a big level of competition in U.S.-China tech relations, however Trump has additionally acknowledged its worth, notably in his 2024 election marketing campaign technique.