U.S. President Donald Trump has revealed that a buyer has been identified for TikTok’s U.S. operations, a move that could potentially end the prolonged uncertainty surrounding the popular video-sharing app.
Speaking in a Fox News interview, Trump said he had secured interest from “a group of very wealthy people” willing to take over the platform. “I’ll tell you in about two weeks,” he said, withholding specific details about the consortium.
While a final agreement appears to be in the works, Trump acknowledged that the sale would still require approval from Chinese authorities. President Xi will probably do it, Trump remarked, referring to China’s President Xi Jinping.
Deadline extended once again
Earlier this month, Trump issued a third delay in enforcing legislation mandating the sale of TikTok by its Chinese parent company, ByteDance. The new deadline, now set for 17 September, gives ByteDance more time to finalize a deal and avoid a potential ban.
The app had previously faced a similar acquisition attempt, which collapsed in April amid escalating tensions between the White House and Beijing over tariffs. It remains unclear whether the current buyers Trump referenced are the same parties involved in the earlier talks.
Political and legal hurdles persist
The pressure for TikTok’s sale stems from legislation passed by the US Congress in April 2024, which cited concerns that user data could be accessed by the Chinese government an allegation TikTok and ByteDance have repeatedly denied.
Though Trump was critical of TikTok during his presidency, he has since shifted his stance, crediting the platform with playing a role in boosting his visibility during the 2024 election campaign.
Despite Congress mandating the sale with an initial compliance deadline of January 19, Trump has repeatedly postponed enforcement through executive orders. These actions have sparked criticism from lawmakers who accuse him of undermining legislative authority.
TikTok had mounted a legal challenge to the law, claiming it was unconstitutional, but the US Supreme Court ultimately upheld the statute, clearing the path for enforcement.