U.S. President Donald Trump revealed during a Fox News interview on Sunday that a deal is in place to acquire TikTok’s U.S. operations.
While he didn’t name the individuals involved, Trump described the prospective buyers as a collective of “very wealthy people,” adding that he plans to disclose their identities in about two weeks.
Speaking on “Sunday Morning Futures with Maria Bartiromo,” Trump stated that the arrangement he is currently shaping would likely require the green light from Beijing. “I think I’ll need probably China’s approval.
I think President Xi will probably do it,” Trump remarked, indicating his expectation that Chinese President Xi Jinping will permit the transaction to proceed.
The origins of this deal trace back to earlier efforts this year when plans were underway to restructure TikTok’s American division into a standalone entity under majority U.S. ownership.
That initiative was later paused after China signaled resistance, likely in response to escalating tensions between Washington and Beijing, including the imposition of significant U.S. tariffs on Chinese imports.
Related story: Trump Grants TikTok More Time to Secure U.S. Sale
Legal and Political Pressures Shaped the Deal
Trump had previously set a deadline of September 17 for TikTok’s China-based parent company, ByteDance, to either sell the U.S. segment of the platform or face a complete shutdown.
That order came in the wake of legislation that mandated a divestment or a ban unless substantial progress toward a sale was evident.
“We have a buyer for TikTok, by the way,” Trump affirmed during the interview, reiterating his view that the Chinese government’s involvement in finalizing the deal is unavoidable.
A 2024 law established a hard deadline of January 19 for TikTok to cease U.S. operations unless a sale was concluded or sufficiently advanced.
This isn’t the first time Trump has moved the goalposts. Although the original legislative deadline was firm, Trump has now extended the divestment window three times. The app, wildly popular among younger demographics, played a notable role in energizing youth turnout in the most recent presidential election—something Trump openly credits as contributing to his support base.
As speculation builds around who exactly the American investors are, the fate of TikTok in the U.S. hangs on both international diplomacy and regulatory compliance.
Trump’s disclosure of the buyers in the coming weeks is expected to shed more light on what may be one of the most closely watched tech transactions in recent history.
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