The well-known short-form video app TikTok, which is owned by the Chinese tech company ByteDance, has found a buyer, according to US President Donald Trump. However, he also hinted that the acquisition might require Chinese government clearance.
“We have a buyer for TikTok, by the way,” Trump said in a Sunday Fox News interview before going on to say, “I think I’ll probably need China’s approval.” President Xi [Jinping] will most likely carry it out, in my opinion.
The Republican presidential nominee described the potential purchasers as a “group of very wealthy people” without disclosing their identities. He promised the interviewer that he will provide additional information “in two weeks,” a phrase he has previously used a lot in public remarks.
Trump’s most recent comments coincide with ongoing doubts about TikTok’s future in the US. Citing national security concerns, he earlier this year endorsed a bill that would require ByteDance to divest the platform or risk a nationwide ban.
Despite the bill’s several delays, Trump has proposed a number of ideas for the app’s future, such as ByteDance and new investors forming a joint venture in which the US would own 50% of the business.
He has previously indicated interest in the app being taken over by wealthy businessman Elon Musk or Oracle co-founder Larry Ellison. But considering his recent pledges and prior comments regarding data privacy, Musk’s involvement seems implausible.
Although it’s unclear if Trump’s remarks represent official talks or a government-backed agreement, the Biden administration has also taken action against TikTok.
TikTok, which has over 170 million users in the US, has called the proposed ban “unconstitutional” and has consistently refuted claims that it shares user data with the Chinese government. Citing due process and free speech issues, the firm has contested any forced sale.
Beijing’s readiness to approve such a deal at a time of tension in US-China relations has been called into question by Chinese authorities’ prior indications that any forced sale of TikTok’s US business would need government clearance.
