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President Donald Trump stated that an agreement involving TikTok’s Chinese parent company, ByteDance, to sell the popular short-video platform would be finalized before a looming deadline on Saturday.
Trump initially set the April 5 deadline in January, requiring TikTok to secure a non-Chinese buyer or face a ban in the U.S. on national security grounds under a 2024 law.
Speaking to reporters aboard Air Force One on Sunday night, Trump mentioned, “We have a lot of potential buyers,” and emphasized the strong interest in the app, saying, “I’d like to see TikTok remain alive.”
According to sources cited by Reuters on Friday, private equity firm Blackstone is considering a small minority investment in TikTok’s U.S. operations. The firm is in discussions to join ByteDance’s existing stakeholders, led by Susquehanna International Group and General Atlantic, to provide additional capital for acquiring the app’s U.S. business. This group has emerged as a leading contender in the bidding process.
The U.S. government has expressed concerns that ByteDance’s ownership of TikTok could make the platform susceptible to Chinese government influence, potentially enabling data collection on American users or the spread of propaganda.
Previously, Trump indicated that he might consider extending the April deadline if a deal had not been reached, telling reporters earlier in March that he was talking with four groups seeking to buy TikTok.
“We’re dealing with four different groups, and a lot of people want it … all four are good,” he stated.
Trump has also mentioned the possibility of extending the 75 days given to TikTok after he returned to the White House.
TikTok was restored to Google and Apple app stores in February after being removed over a legal ban requiring the company to divest from China-based ByteDance.
The change came following a reported letter from the Trump administration’s U.S. Attorney General Pam Bondi, notifying the companies they would not be punished for offering the app while negotiations continue with TikTok’s parent company.
“I’m going to make it worthwhile for China to do it,” Trump said at a press conference in early March when asked about making a deal concerning the app, Politico reported.
“It will be to China’s advantage to have the deal be made,” he said.
“Well, I have 90 days from about two weeks ago, and I’m sure it can be extended,” he said. “But let’s see. I don’t think you’ll need to.”
