Trump Teases TikTok Buyer, Hints at Chinese Approval

Former President Donald Trump has stated that the U.S. government has identified a buyer for TikTok. He hinted at revealing the identity of the group, describing them as "very wealthy people." Trump also suggested that Chinese approval, likely from President Xi, might be necessary for the deal to proceed.

Last year, TikTok was mandated to find a new owner for its U.S. operations or face a ban in the United States. This action followed concerns from U.S. lawmakers regarding national security risks. The lawmakers alleged that Chinese authorities could potentially compel TikTok's parent company, ByteDance, to share sensitive data about American citizens. Both Beijing and ByteDance have refuted these claims.

When questioned about the buyers' identity, Trump indicated he would reveal the information in approximately two weeks. ByteDance has been contacted for comment on the recent developments. The Trump administration has delayed the enforcement of the bipartisan law banning the app for a third time. TikTok expressed gratitude for Trump's support, emphasizing the platform's importance to its 170 million American users and 7.5 million U.S. businesses.

In response to a previous delay, China's commerce ministry voiced opposition to practices that disregard market economy principles and harm the rights of businesses. The ministry emphasized that any business arrangements must comply with Chinese law, including technology export regulations requiring government approval. With the ongoing extensions, a ban on TikTok in the U.S. appears increasingly unlikely. The White House press secretary stated that Trump does not want TikTok to be shut down. The current extension is for 90 days, during which the administration aims to finalize the deal to ensure the security of American users' data.