A deal is nearly in place for an American company to acquire the US operations of TikTok, President Trump said, adding that he expects to bring China into the talks this week. Speaking to reporters Friday night on Air Force One, Trump stated that talks with China to approve the agreement will likely begin Monday or Tuesday, the New York Times reports. "We think we probably have to get it approved by China. Not definitely, but probably," he said, adding that the deal would be "good for China, and it's good for us."
Trump did not identify the potential buyer. Earlier last week, he mentioned that a buyer had been found for the US branch of the wildly popular Chinese-owned video app, which faces a potential ban over national security concerns. Under a 2024 law, TikTok's Chinese parent company ByteDance must sell the US business to a non-Chinese firm or face a ban prompted by fears that Americans' data could be accessed by China's government. It remains unclear if the tentative deal meets Congress' conditions, especially regarding whether ByteDance will share TikTok's algorithm with new US owners. Some private equity firms have been reluctant to get involved without assurances against future legal or regulatory trouble.
The president also said he might visit China to meet with Xi Jinping, per the Guardian, or the Chinese leader may visit the US. Trump has not enforced the bipartisan law mandating a ban, which was upheld by the Supreme Court. After taking office, he ordered the Justice Department to halt enforcement and has continued to extend that pause. Attorney General Pam Bondi has told tech firms the president believes he has the constitutional authority to set aside the law for now.
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