TikTok Sale to U.S. Buyer Expected Before April 5 Deadline, Says Vice President Vance
Vice President JD Vance expressed confidence that a deal addressing national security concerns will be mostly finalized by early April, though clerical delays could push completion past the deadline.
- TikTok's Chinese parent company, ByteDance, is required by U.S. law to sell the app to an American buyer or face a nationwide ban starting April 5.
- Vice President JD Vance stated that a 'high-level agreement' is likely to be reached, creating a distinct American TikTok entity that satisfies national security concerns.
- President Trump signed an executive order in January extending the original January deadline to April, and he has indicated he may grant another extension if necessary.
- Potential buyers include major companies and investor groups, though details on the negotiations and ByteDance's willingness to sell remain unclear.
- Vance noted that finalizing the deal involves significant legal complexities, including equity ownership and investor contracts, which could delay the process past the deadline.