In a pre-recorded interview, President Donald Trump announced that he has identified an unnamed buyer for the U.S. operations of TikTok, the social media app owned by Chinese company ByteDance Ltd.
According to the President, the sale would need Beijing and President Xi Jinping’s go-ahead. Despite ByteDance and the Chinese government having previously opposed such a deal, Trump expressed positivity for the latest offering.
Trump stated, “We have a buyer for TikTok, by the way. I think I’ll need probably China approval and I think President Xi will probably do it. It’s a group of very wealthy people.”
The announcement comes as President Trump has worked closely with Chinese officials on a mineral trade deal that reached approval last week.
Chinese Foreign Ministry spokeswoman Mao Ning told reporters at a regular press briefing in Beijing today that, regarding TikTok issues, China “has reiteratedposition.”
The future of the U.S. branch of the social media giant has been uncertain for years, with ByteDance under pressure from the first Trump administration to sell the asset to an American company.
A January deadline for ByteDance to find a local buyer was delayed twice by Trump, who this month extended it again by another 90 days from June 19.
Despite his earlier doubt about the app, President Trump has grown increasingly in favor of the acquisition, as TikTok in the U.S. could be worth as much as one trillion dollars.
The White House did not reply to a request for further details on Trump’s latest remarks.
By CEO NA Editorial Staff
