(FILES) TikTok is displayed on the screen of an iPhone in front of a US flag and Chinese flag background in Washington, DC, on March 16, 2023. (Photo by OLIVIER DOULIERY / AFP)
A deal with ByteDance to sell Toktok would be struck before a deadline on Saturday, President Donald Trump has said.
Trump set the April 5 deadline in January for TikTok to find a non-Chinese buyer or face a U.S. ban on national security grounds due to have taken effect that month under a 2024 law.
“We have a lot of potential buyers,” Trump told reporters on Air Force One late on Sunday. “There’s tremendous interest in Tiktok,” adding, “I’d like to see Tiktok remain alive.”
The development comes after Reuters reported on Friday that private equity firm Blackstone is evaluating making a small minority investment in TikTok’s U.S. operations, according to two people familiar with the matter.
Blackstone is discussing joining ByteDance’s existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in contributing fresh capital to bid for TikTok’s U.S. business. The group has emerged as front-runners.
Washington says TikTok’s ownership by ByteDance makes it beholden to the Chinese government and Beijing could use the app to conduct influence operations against the United States and collect data on Americans.
Trump previously said he was willing to extend the April deadline if an agreement over the social media app was not reached.
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Last week, he acknowledged the role China will play in getting any deal done, including giving its approval, saying “maybe I’ll give them a little reduction in tariffs or something to get it done.”
Vice President JD Vance has said he expects the general terms of an agreement resolving the ownership of the social media platform to be reached by April 5.
The future of the app used by nearly half of all Americans has been up in the air since a 2024 law, passed with overwhelming bipartisan support, required ByteDance to divest TikTok by January 19.
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