President Donald Trump has announced that a deal for the sale of TikTok by its Chinese owner, ByteDance, will be reached before the April 5 deadline. Speaking to reporters aboard Air Force One on Sunday, March 30, Trump stated, “We have a lot of potential buyers. There’s tremendous interest in TikTok,” adding, “I’d like to see TikTok remain alive.”
The deadline was initially set in January under a 2024 law requiring ByteDance to divest its U.S. TikTok operations or face a ban on national security grounds. The U.S. government has raised concerns that ByteDance’s ownership makes TikTok susceptible to Chinese government influence, potentially allowing Beijing to conduct influence operations and collect data on American users.
Reuters had reported last Friday that private equity firm Blackstone is considering a minority investment in TikTok’s U.S. operations. Sources indicate Blackstone is in talks to join ByteDance’s existing non-Chinese investors, including Susquehanna International Group and General Atlantic, in contributing fresh capital to acquire TikTok’s U.S. business. This group is now seen as the leading contender in the negotiations.
Last week, Trump acknowledged China’s role in approving any potential sale and suggested that he might consider offering a reduction in tariffs to facilitate the transaction. Vice President JD Vance has also expressed confidence that the general terms of an agreement will be settled by April 5.
TikTok, which has become a major social media platform with nearly half of all Americans using it, has faced an uncertain future since the passage of the 2024 law. While Trump had previously signaled a willingness to extend the deadline if necessary, his latest comments indicate that a resolution may be imminent.