Trump claimed to have a buyer for TikTok

Donald Trump said he has found a group of investors willing to buy out TikTok. He said this in an interview with Fox News, commenting on the situation around the video service, which is facing a ban in the U.S. due to national security concerns.

The deal is contingent on Chinese approval

Trump said “very wealthy people” are ready to buy the platform. “I’ll give more details in a couple weeks,” he added, declining to disclose specifics. That said, the former president expressed confidence that Chinese leader Xi Jinping would “probably agree” to the deal.

The former president also said he was confident that Chinese leader Xi Jinping would “probably agree” to the deal.

Reminder, TikTok is owned by Chinese company ByteDance. Under current U.S. law, the platform must be sold by Sept. 17, which is the third time Trump has delayed the law’s enactment.

The conflict over the sale of TikTok has been going on since 2023

The initiative to sell TikTok was approved by the U.S. Congress last April. Lawmakers fear that the Chinese government could gain access to Americans’ user data. ByteDance and TikTok deny the allegations.

Earlier this year, the first attempt to sell TikTok to U.S. investors broke down. Negotiations then stalled over disagreements between the US and China over the tariffs imposed. Now it remains unclear whether the buyers are the same as in April.

Trump’s change of heart on TikTok

In his first term as president, Trump criticized TikTok. However, in the context of the 2024 election, he has come to see the platform as an important part of his campaign strategy. He now favors keeping TikTok operating in the U.S. – but under a new, U.S.-based owner.

The law to force the sale of TikTok was supposed to go into effect on Jan. 19, but Trump has delayed its implementation three times through executive orders. The moves drew criticism from Congress, where they were seen as an attempt to circumvent the legislative process.

TikTok tried to challenge the law in the U.S. Supreme Court, but lost the case. Company officials have not yet commented on Trump’s statement.