President Trump said he expects to announce conditions for an agreement with China Tiktok -based parent company to sell the popular application for video sharing before a skilled deadline comes into force this Saturday.
Trump has until April 5 to find an acceptable buyer for Tiktok after issuing an executive order by delaying the implementation of a federal law that banned the application unless bydance devoted it. Congress decided to stop for fear that Tiktok is a risk of national security that functions as a spying and propaganda tool for Beijing.
“We have a lot of potential buyers. There is tremendous interest in Tiktok,” Trump told reporters late Sunday, according to Reuters. “The decision will be my decision, as you know, through Congress. They have given me the power to make the decision.”
“I would like to see Tiktok remain alive,” Trump added.
Trump has said he will extend the deadline if necessary to complete the deal. Vice President JD Vance has taken over the negotiations.
Some of the current US -based Tiktok investors, including General Atlantic and Sesquehanna, are in talks to take a larger Tiktok ownership action, as Charles Gasparino reported. Larry Ellison’s Oracle is expected to play a leading role by ensuring that data from more than 170 million US users of Tiktok are safe.
The Trump administration is likely to announce a period of ash of 30 days or potentially longer while officials iron the details. Meanwhile, Bytedance is expected to hold a minority of shares in Tiktok,
Sen. Tom Cotton, who heads the Intel Committee of the Senate, has pressured China’s full departure and expressed concerns about the remaining bydance included.
However, cotton has told the people that he will repay his concerns at the moment the White House works to secure an agreement that would address the national security concerns of the Congress.
Last week, Trump sailed the possibility that he could offer China a fee break if signed in a Tiktok deal.
The president has already imposed 20% tariffs on all Chinese goods imports – and threatened more fines if trade negotiations do not bear fruit.
“Maybe I will give them a little tariff reduction or something to do it,” Trump said.
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