President Trump said the United States has “pretty much” reached a deal for a company to acquire the U.S. assets of TikTok and plans to begin talks with China this week.
“I think we’re going to start Monday or Tuesday … talking to China, perhaps President Xi or one of his representatives, but we would, we pretty much have a deal,” Trump told reporters on Air Force One on his way to his home in Bedminster, New Jersey, Friday.
The deal would likely need to be approved by China, Trump said, adding he believes the agreement would benefit both countries.
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“President Xi and I have a great relationship, and I think it’s good for them,” he said. “I think the deal is good for China, and it’s good for us.”
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During an interview with Maria Bartiromo on Fox News’ “Sunday Morning Futures” last week, the president similarly signaled he had found American buyers for the social media app, describing them as “very wealthy people.”
“We have a buyer for TikTok, by the way,” Trump said. “I think I’ll need probably China’s approval. I think President Xi will probably do it.”
Last month, Trump extended the deadline for the third time for ByteDance, the Chinese company that developed TikTok, to divest U.S. assets of the video-sharing app. ByteDance has until Sept. 17 to find an American buyer, according to Reuters.
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The U.S. came close earlier this year to making a deal with Chinese-owned TikTok to spin off its U.S. operations into a new company owned by U.S. investors, but the Chinese government said it wouldn’t agree to it, citing the Trump administration’s tariffs, according to a report.
TikTok, which has around 170 million active monthly users in the U.S., was previously required to stop operating by Jan. 19. Trump signed an executive order at the time extending the deadline for TikTok for another 90 days. A second extension was issued in April and a third was signed in June.
The Protecting Americans from Foreign Adversary Controlled Applications Act, passed by Congress in April 2024 with wide bipartisan support, gave TikTok nine months to either separate from ByteDance or be removed from U.S.-based app stores and hosting services.
In passing the law, Congress cited concerns over the app’s Chinese ownership, which members said meant the app had the potential to be weaponized or used to amass vast amounts of user data.
The White House and TikTok did not immediately respond to Fox News Digital’s request for comment.
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