U.S. President Donald Trump has confirmed that his administration is in discussions with 4 totally different teams concerning the sale of TikTok’s U.S. operations, stating that every one choices stay viable.
In keeping with a Reuters report, Trump made this recognized on Sunday whereas chatting with reporters aboard Air Drive One.
His assertion comes as ByteDance, TikTok’s Chinese language guardian firm, faces a looming deadline to divest the app because of nationwide safety considerations.
Requested whether or not a deal for TikTok was imminent, Trump responded, “it might.” He additional acknowledged, “We’re coping with 4 totally different teams, and lots of people need it … all 4 are good.”
Backstory
The sale of TikTok has been unsure since a U.S. regulation requiring ByteDance to promote the app or face a ban took impact on January 19 over considerations about knowledge privateness and nationwide safety.
- Trump, after assuming workplace on January 20, signed an government order delaying enforcement of the regulation by 75 days.
His determination to delay the ban was framed as an effort to “decide the suitable plan of action with respect to TikTok,” signaling that his administration was open to negotiations.
- Beneath the phrases of the regulation, TikTok should now safe a cope with a U.S. purchaser to proceed working. Trump has floated the concept the app must be owned by means of a three way partnership that’s a minimum of 50 per cent managed by U.S. buyers.
- He has additionally warned China that any try to dam the sale might end in tariffs of “25, 30, 50%, even 100%.”
TikTok has constantly denied allegations that it cooperates with the Chinese language authorities, insisting that it operates independently.
The corporate has stated it doesn’t share person knowledge with Beijing and has taken steps to distance itself from its Chinese language guardian firm, together with organising operations in the USA and hiring American executives.
TikTok bid
As negotiations over TikTok’s future proceed, the race to amass TikTok has attracted quite a few bidders. Amongst these bidding for TikTok’s U.S. belongings is former Los Angeles Dodgers proprietor, Frank McCourt, who has partnered with Reddit co-founder and enterprise capitalist, Alexis Ohanian as a strategic adviser targeted on social media.
“He has that broad portfolio of expertise … of the place social media was and, I feel, a eager understanding of the place it’s evolving,” McCourt stated.
Ohanian, who co-founded Reddit in 2005 and later bought it to Conde Nast in 2006, has a robust funding portfolio that features Instacart, Patreon, and OpenSea.
McCourt refers to his bid as “The Folks’s Bid” and plans to run the app on know-how that enhances person management over knowledge utilization and privateness. He and his companions submitted their bid in early January 2025, forward of the approaching deadline for ByteDance to promote TikTok’s U.S. operations.
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