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President Trump revealed during a Fox News interview that he has located a purchaser for the popular TikTok app. He mentioned that this potential buyer is a group of affluent individuals, whose names he plans to disclose in approximately two weeks.
Trump made the remarks in an interview on Fox News’ “Sunday Morning Futures with Maria Bartiromo” program.
Trump acknowledged that the agreement being negotiated would likely require approval from China before it can proceed further. He expressed confidence that Chinese President Xi Jinping would give his consent to the deal.
Earlier this month, the President granted China-based ByteDance an extension until September 17 to sell off TikTok’s US operations, as there was minimal advancement in complying with the law that demanded either a sale or closure of the app.
A deal had been in the works this spring that would have spun off TikTok’s US operations into a new US-based firm, majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump’s announcements of steep tariffs on Chinese goods.
“We have a buyer for TikTok, by the way,” Trump said. “I think I’ll need probably China’s approval. I think President Xi will probably do it.”
A 2024 US law required TikTok to stop operating by January 19 unless ByteDance had completed divesting the app’s U.S. assets or demonstrated significant progress toward a sale.
Trump, who credits the app with boosting his support among young voters in last November’s presidential election, has extended the deadline three times.