As the deadline to strike a deal over TikTok approaches this week, President Donald Trump has signaled that he is confident his administration can broker an agreement with ByteDance, the social media app’s China-based parent company.
Speaking with reporters on Air Force One late Sunday, Trump said that “there’s tremendous interest in Tiktok.” He added that he would “like to see TikTok remain alive.” The president’s comments came less than one week before an April deadline requiring ByteDance to divest or face a ban in the United States.
“We have a lot of potential buyers,” Trump said.
Trump also said that the administration is “dealing with China” who “also want it because they may have something to do with it.” Last week, Trump said he would consider a reduction in tariffs on China if that country’s government approves a sale of TikTok’s operations in the U.S.
Questions about the fate of the popular video sharing app have continued to linger since a law requiring ByteDance’s divestment took effect on Jan. 19. After taking office, Trump gave TikTok a 75-day reprieve by signing an executive order that delayed enforcement of the statute until April 5.
During his first term, Trump tried to ban TikTok on national security grounds, which was halted by the courts before his administration negotiated a sale of the platform that eventually failed to materialize. He changed his position on the popular app during last year’s presidential election and has credited the platform with helping him win more young voters.
“I won the young vote by 36 points. Republicans generally don’t do very well with the young vote,” he said Sunday. “I think a lot of it could have been TikTok.”
Trump has said that the deadline on a TikTok deal could be extended further if needed. He previously proposed terms in which the U.S. would have a 50% stake in a joint venture. The administration hasn’t provided details on what that type of deal would entail.
TikTok and ByteDance have not publicly commented on the talks. It’s also unclear if ByteDance has changed its position on selling TikTok, which it said early last year it does not plan to do.
What will happen on April 5?
If TikTok is not sold to an approved buyer by April 5, the original law that bans it nationwide would once again go into effect. However, the deadline for the executive order doesn’t appear to be set in stone and the president has reiterated it could be extended further if needed.
Trump’s order came a few days after the Supreme Court unanimously upheld a federal law that required ByteDance to divest or be banned in January. The day after the ruling, TikTok went dark for U.S. users and came back online after Trump vowed to stall the ban.
The decision to keep TikTok alive through an executive order has received some scrutiny, but it has not faced a legal challenge in court.
Who wants to buy TikTok?
Although it’s unclear if ByteDance plans to sell TikTok, several potential bidders have come forward in the past few months.
Aides for Vice President JD Vance, who was tapped to oversee a potential deal, have reached out to some parties, such as the artificial intelligence startup Perplexity AI, to get additional details about their bids, according to a person familiar with the matter. In January, Perplexity AI presented ByteDance with a merger proposal that would combine Perplexity’s business with TikTok’s U.S. operation.
Other potential bidders include a consortium organized by billionaire businessman Frank McCourt, which recently recruited Reddit co-founder Alexis Ohanian as a strategic adviser. Investors in the consortium say they’ve offered ByteDance $20 billion in cash for TikTok’s U.S. platform. And if successful, they plan to redesign the popular app with blockchain technology they say will provide users with more control over their online data.
Jesse Tinsley, the founder of the payroll firm Employer.com, says he too has organized a consortium, which includes the CEO of the video game platform Roblox, and is offering ByteDance more than $30 billion for TikTok.
Trump said in January that Microsoft was also eyeing the popular app. Other interested parties include Trump’s former Treasury secretary Steve Mnuchin and Rumble, the video site popular with some conservatives and far-right groups. In a post on X last March, Rumble said it was ready to join a consortium of parties interested in purchasing TikTok and serving as a tech partner for the company.
This story was originally featured on Fortune.com
