Trump says TikTok sale will be finalized before April 5 deadline
Trump expects TikTok sale to be settled before April 5 deadline
President Donald Trump has announced that a deal between TikTok and potential buyers must be struck by April 5, or the app will face a possible U.S. ban.
The deadline was set after a 2024 law mandated that ByteDance, the Chinese parent company of TikTok, divest its U.S. operations on national security grounds, reports Reuters.
In a statement aboard Air Force One, Trump emphasized that "there's tremendous interest in TikTok" and expressed a desire to see the platform continue operating in the U.S. "We have a lot of potential buyers," he added, suggesting that a resolution was imminent.
Blackstone and Other Investors Eye TikTok's U.S. Business
The deadline looms as private equity firm Blackstone evaluates a minority investment in TikTok's U.S. operations. According to sources familiar with the discussions, Blackstone is considering joining forces with ByteDance’s non-Chinese investors, such as Susquehanna International Group and General Atlantic, to provide fresh capital and potentially lead a bid for TikTok's U.S. business.
This investor group has emerged as the front-runner in the negotiations. The U.S. government has raised national security concerns, claiming that ByteDance's ownership ties to the Chinese government could lead to influence operations or data collection on American users. This has intensified pressure on ByteDance to offload the app to a non-Chinese entity.
Possible Extension and Role of China in Dealmaking
Trump had previously suggested that he might extend the April 5 deadline if an agreement was not reached. He also acknowledged that China’s approval would be crucial for any deal, hinting that the U.S. might offer tariff reductions as part of the negotiations.
The fate of the app, which has been downloaded by over 170 million Americans, has been uncertain since the 2024 law was passed. The White House has played an active role in facilitating the deal talks, effectively acting as an intermediary in this high-stakes business matter.
Meanwhile, Vice President JD Vance expressed optimism that a deal to secure TikTok's future in the United States will be finalized by the early April deadline.
