Overview

• Trump told Fox News that a group of “very wealthy people” has agreed to acquire TikTok’s U.S. business and that their identities will be revealed in about two weeks.
• A 2024 law requires ByteDance to sell TikTok’s American operations by September 17 or face an outright ban in U.S. app stores.
• Chinese government approval and adherence to export controls on TikTok’s recommendation algorithm remain critical hurdles to closing any sale.
• Since January, Trump has issued three successive extensions to delay enforcement of the divestiture mandate and keep the app accessible to its 170 million U.S. users.
• Proponents say a U.S. takeover will secure user data from Beijing influence, while the ACLU and others caution that forced divestiture may raise free speech and unresolved security concerns.