President Donald Trump says a deal for the sale of TikTok’s US operations is expected to be finalised before the April 5 deadline.
The deadline, which was set in January, requires ByteDance, TikTok’s Chinese parent company, to divest its US business to a non-Chinese entity due to national security concerns.
Speaking to reporters aboard Air Force One on Sunday, Trump expressed optimism about the negotiations.
“We have a lot of potential buyers, there’s tremendous interest in Tiktok. I’d like to see Tiktok remain alive,” he said.
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JD Vance, US Vice-President, who has been involved in facilitating the negotiations, previously said he anticipates that the general terms of an agreement resolving the social media platform’s ownership will be reached before the deadline.
Trump had earlier indicated his willingness to extend the April deadline if an agreement was not reached.
He also acknowledged China’s role in the deal, stating that their approval is necessary.
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“Maybe I’ll give them a little reduction in tariffs or something to get it done,” he said.
Several US-based investors have shown interest in the impending sale.
Frank McCourt, a billionaire entrepreneur, said he aims to transform TikTok using blockchain technology to give users greater control over their data.
Other high-profile figures vying for control of TikTok include Jesse Tinsley, a tech entrepreneur; Jimmy Donaldson, a YouTube personality also known as MrBeast; and Reid Rasner, a Wyoming investor.
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On March 28, Reuters reported that Blackstone, a private equity firm, is considering a minor investment in the social media company.
According to the report, the firm seeks to partner with existing non-Chinese stakeholders, such as Susquehanna International Group and General Atlantic, to secure a stake in TikTok’s US operations.
