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President Donald Trump of the United States announced that he will begin discussions with China regarding a potential deal involving TikTok on Monday or Tuesday.
He stated that the US is “essentially” close to finalizing an agreement for the sale of the TikTok app, which is owned by the China-based company ByteDance.
“I think we will start talks on Monday or Tuesday […] with China, possibly with President Xi Jinping or someone representing him. We are nearly there,” Trump shared with reporters aboard Air Force One.
Last month, Trump extended the deadline to September 17 for ByteDance to sell its TikTok assets in the US.
A deal had been proposed earlier this spring to create a new US-based entity for TikTok’s operations, predominantly funded and managed by American investors. However, this initiative was stalled after China indicated it would not grant approval in light of Trump’s recent announcements regarding significant tariffs on Chinese imports.
Trump indicated that obtaining approval from China will likely be necessary for any deal to proceed.
When asked about his confidence in China’s willingness to agree to the terms, he replied, “I’m not very confident, but I believe it could happen.”
“President Xi and I have a strong relationship, and I think this agreement will be beneficial for both parties. It’s advantageous for China as well as for us,” he added.
In a recent interview with Fox News, Trump claimed to have identified a potential buyer for TikTok.
He remarked that the developing agreement would likely require China’s approval to proceed and expressed optimism that President Xi would likely endorse it.
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