WASHINGTON – US President Donald Trump confirmed sale of TikTok’s US operations which may soon be finalised in future while final decision rest with Chinese President and government members.
Trump said a group of wealthy people is prepared to buy TikTok’s US operations, with their identities to be revealed within two weeks. Speaking on US media channel, Trump said he expects Beijing will approve deal, which still requires sign-off from Beijing due to TikTok’s parent company, ByteDance, being based in China.
The sale must be completed by September 17 under a U.S. law mandating divestment or shutdown. US President mentioned he expects to announce the identities of the potential buyers within the next two weeks. He acknowledged that China’s approval would likely be necessary for the transaction to move forward.
Trump’s optimism is rooted in hope that ByteDance, the Chinese tech firm that owns TikTok, will be allowed by Beijing to proceed with the sale.
The effort to transfer TikTok’s US operations has faced a number of delays and geopolitical obstacles. Earlier this month, Trump pushed back the deadline for ByteDance to divest its American assets to September 17, followed 2024 law mandating that TikTok either be sold or shut down in the U.S. by January 19 if substantial progress wasn’t made.
Trump even linked part of his rising popularity among younger voters to his engagement on TikTok, which may be influencing his continued interest in securing a deal. So far, he has granted three deadline extensions.
