Aboard Air Force One/Washington – March 30 (Reuters) – Former President Donald Trump announced late Sunday that an agreement for the sale of TikTok’s U.S. operations is expected to be finalized before this Saturday’s deadline, potentially averting a nationwide ban of the popular app.
Deadline Looms as Buyers Circle
Trump, who initially set an April 5 deadline in January for TikTok’s Chinese parent company, ByteDance, to sell the app or face prohibition in the U.S., expressed optimism about a resolution.
“We have a lot of potential buyers,” Trump told reporters aboard Air Force One. “There’s tremendous interest in TikTok. I’d like to see TikTok remain alive.”
The forced divestment stems from a 2024 U.S. law citing national security concerns, with lawmakers arguing that ByteDance’s ownership could allow the Chinese government to access American user data or influence operations.
Blackstone Emerges as Key Player
According to sources familiar with the matter, private equity giant Blackstone is considering a minority investment in TikTok’s U.S. operations. The firm is reportedly in talks to join ByteDance’s existing non-Chinese shareholders—including Susquehanna International Group and General Atlantic—to form a consortium bidding for the app’s American business.
China’s Role and Potential Concessions
Trump acknowledged that Beijing’s approval remains a critical factor in finalizing any deal, even suggesting he might offer “a little reduction in tariffs or something” to facilitate an agreement.
Meanwhile, Vice President JD Vance has indicated that broad terms for TikTok’s ownership restructuring could be settled by the April 5 cutoff.
Unprecedented White House Involvement
The Biden administration has taken an unusually hands-on role in negotiations, effectively acting as an intermediary in the high-stakes corporate transaction. The outcome will determine the fate of an app used by roughly 170 million Americans—nearly half the country’s population.
TikTok declined to comment on the latest developments.
(Reporting by [Your Name/Reuters]; Editing by [Your Name])
Key Takeaways:
- Trump expects TikTok sale deal before April 5 deadline
- Blackstone exploring minority stake in U.S. operations
- White House deeply involved in brokering the deal
- China’s approval remains a pivotal hurdle