In a recent Fox News interview, President Trump said he has lined up a group of very wealthy buyers to purchase TikTok’s U.S. operations. He plans to reveal their identities in about two weeks.
The president noted the deal would likely need approval from the Chinese mainland and expressed confidence it would get the green light.
A 2024 U.S. law requires ByteDance to divest TikTok’s U.S. assets by January 19 or face a shutdown. Despite this, Trump has extended the deadline three times, most recently to September 17.
He has credited TikTok’s popularity with boosting his support among young voters in last November’s election, a reminder of the app’s powerful sway over Gen Z and millennial audiences.
Earlier this year, a plan to spin off TikTok’s U.S. arm into a U.S.-based firm majority-owned by American investors stalled after the Chinese mainland signaled it would not approve the deal amid escalating trade tensions.
“We have a buyer for TikTok, by the way,” Trump said. “I think I’ll need probably the Chinese mainland’s approval. It will probably do it.”
With the September deadline approaching, all eyes are on whether this new sale can navigate both U.S. regulatory hurdles and secure the green light from the Chinese mainland.
Reference(s):
cgtn.com
