In an interview aired Sunday on Fox News’ “Sunday Morning Futures with Maria Bartiromo,” Trump said he would share the identities of these potential buyers in about two weeks.
“I think President Xi will probably do it,” Trump added, referring to the need for Chinese President Xi Jinping’s approval for any deal involving TikTok’s Beijing-based owner, ByteDance.
A Platform Caught in Geopolitical Tensions
TikTok’s future in the U.S. has remained uncertain since 2024, when Congress passed a law requiring ByteDance to divest its American business or face a ban.
The Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA) was driven by security concerns that the Chinese government could use TikTok to manipulate content or access sensitive data from American users.
Under the law, app store operators and internet service providers would be penalised for supporting TikTok after the deadline for compliance.
Extensions and Negotiations
Earlier this month, Trump granted ByteDance a new deadline of September 17 to sell TikTok’s U.S. operations—his third extension since the Supreme Court upheld the TikTok law in January, just before his second presidential inauguration.
TikTok temporarily went dark in the U.S. ahead of the original enforcement date in January but was restored after Trump offered assurances of the extension.
Possible Buyers and Complexities
Trump has previously credited TikTok with boosting his popularity among young voters during the last presidential election, and he has made clear he would like the platform to continue operating in the U.S. under new ownership.
Potential buyers who have reportedly expressed interest include Oracle’s Larry Ellison, as well as firms like AppLovin and Perplexity AI, with some linked to Trump’s circle of business allies.
A deal that would have allowed ByteDance to retain a minority stake while spinning off TikTok’s U.S. operations was in the works earlier this year but fell apart in April after Trump’s announcement of new tariffs on China, according to Reuters.
Challenges Ahead
Despite Trump’s optimism, it remains unclear whether ByteDance is willing to sell, and any transaction would almost certainly require approval from Beijing.
Trump has even floated the idea of a joint venture in which American buyers would acquire TikTok and then sell a 50% stake to the U.S. government.
Experts have warned that any prospective deal could face legal challenges in the U.S., depending on how it complies with the requirements of PAFACA.