Overview

• President Trump told Fox News he has lined up “a group of very wealthy people” to acquire TikTok’s US operations and will name them in roughly two weeks.
• He said the sale likely hinges on approval from China’s government and President Xi Jinping.
• Earlier this spring, a near-deal to transfer TikTok’s US arm to American investors collapsed after Beijing balked following disputes over Trump’s trade tariffs.
• Trump has used three executive orders to push back the divest-or-ban mandate enacted by Congress, most recently extending it to September 17, 2025.
• ByteDance says talks with US officials continue and stresses that any deal must comply with Chinese export rules governing its algorithm.