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3w ago

White House to Review TikTok Sale Proposal Ahead of April 5 Deadline

President Trump and senior officials will evaluate a final proposal for the divestment of TikTok's U.S. operations, with a potential extension if no deal is reached by the deadline.

FILE - The TikTok app logo appears in Tokyo on Sept. 28, 2020. (AP Photo/Kiichiro Sato, File)
FILE - A visitor passes the TikTok exhibition stands at the Gamescom computer gaming fair in Cologne, Germany, Thursday, Aug. 25, 2022. (AP Photo/Martin Meissner, File)
FILE - Alexis Ohanian poses for photos on the red carpet at the Women's Sports Foundation's Annual Salute to Women in Sports, Wednesday, Oct. 12, 2022, in New York. (AP Photo/Julia Nikhinson, File)
Illustration: Sarah Grillo/Axios

Overview

  • The U.S. government has mandated ByteDance to sell TikTok's U.S. operations or face a nationwide ban due to national security concerns.
  • President Trump will meet with key officials on Thursday to review a final proposal from potential U.S. buyers for TikTok's U.S. business.
  • If no agreement is finalized by April 5, the original ban legislated by Congress will be reinstated, though Trump may extend the deadline by up to 90 days.
  • ByteDance has not confirmed its willingness to sell TikTok, and Chinese government approval remains a critical hurdle in the divestment process.
  • Potential buyers include prominent U.S. investors and consortia, with bids reportedly ranging from $20 billion to $48 billion.