Trump Says There’s a TikTok Buyer That He’ll Reveal in ‘About Two Weeks’
- Trump revealed he has a “buyer for TikTok” to announce soon.
- The necessity for Chinese approval could complicate the deal.
- September 17 is the new deadline for TikTok’s US operations oversight.
Trump hints at potential TikTok buyer announcement soon
In a recent interview, President Donald Trump hinted that he has a “buyer for TikTok” and plans to disclose the identity of this buyer in roughly two weeks. Speaking on Fox News’ “Sunday Morning Futures with Maria Bartiromo,” Trump mentioned that he believes Chinese approval will be necessary for the sale, and hinted that President Xi might be supportive of the transaction. Additionally, he described the prospective buyers as a “group of very wealthy people,” sparking interest in who they could be and how the deal might unfold.
Timeline of TikTok’s ban and Trump’s actions
The backdrop to Trump’s statement is the ongoing controversy surrounding TikTok, which has faced a potential ban in the United States due to its ties to China. More than five months ago, a law was passed requiring TikTok to be divested from its Chinese parent company, ByteDance, but enforcement of this law has been stalled by Trump’s interventions. Specifically, Trump has signed multiple orders that have postponed the implementation of the ban, the latest deadline now set for September 17, when the company will need to cede control of its US operations if the buy-out doesn’t occur.
Challenges and implications for TikTok’s future in the US
Despite efforts for a deal, the Chinese government has been ambiguous about approving a sale; they’ve suggested that any agreement would not include TikTok’s highly valued algorithm, often referenced as its “secret sauce.” Previous negotiations for a transfer of control were notably disrupted when Trump imposed new tariffs on China, leading to further delays. The Biden administration is also keeping an eye on the situation, as the former president had previously enacted this sale-or-ban law with the aim of addressing national security concerns surrounding TikTok’s data practices in the United States.
Trump’s upcoming announcement may significantly affect TikTok’s fate in the US. The pressure is on for an agreement that aligns with both American and Chinese interests. As the deadline approaches, the future of TikTok remains uncertain amidst ongoing negotiations.
