In a recent interview, President Donald Trump announced that a buyer for TikTok is in place, promising to reveal more details in approximately two weeks. Speaking on Fox News, Trump stated, “We have a buyer for TikTok, by the way. I think I’ll need probably China’s approval, and I think President Xi will probably do it.” When pressed for the identity of the prospective buyer, Trump hinted it would be “a group of very wealthy people.”
This announcement comes amid ongoing discussions about TikTok’s future in the United States, which has faced scrutiny over its ownership by the Chinese company ByteDance. A law mandating the sale or ban of TikTok in the US took effect about five months ago, yet enforcement has been stalled due to Trump’s reassurances. He has issued several orders delaying the ban and recently extended the deadline for ByteDance to relinquish control of TikTok’s US operations to September 17.
The uncertainty surrounding TikTok’s fate has raised concerns, especially given China’s reluctance to consent to a sale that involves the platform’s lucrative algorithms—deemed its “secret sauce.” As the deadline approaches, speculation about the viability of a deal continues, especially since negotiations were previously undermined by heightened tariffs from the Trump administration, which derailed an impending agreement to transfer majority control of TikTok’s operations to American interests.
Former President Joe Biden’s administration subsequently signed into law the provisions enforcing this sale-or-ban mandate. An initial attempt by TikTok to preempt the law by briefly taking the app offline in January resulted in backlash from users, prompting Trump to consider measures to keep the app functional in the US.
In summary, as negotiations progress, TikTok’s future remains uncertain, hinging greatly on regulatory approvals and the perceived value of its operational control. Whether a resolution can be reached to assuage both national security concerns and the app’s massive user base will soon be clearer in the coming weeks.