In an unexpected turn, former President Donald Trump has announced he is in talks with a group of affluent investors interested in purchasing TikTok, the controversial short-video platform currently banned in the U.S.
Trump Claims He Has Wealthy Backers Ready to Buy TikTok
Trump Claims He Has Wealthy Backers Ready to Buy TikTok
Trump reveals potential deal for TikTok amid ongoing national security debates.
In a recent interview with Fox News, Trump stated that he has secured a "group of very wealthy people" who are ready to buy TikTok, a platform that has faced scrutiny over its data security practices. He hinted at making a more detailed announcement in about two weeks, suggesting a possible resolution to the app's contentious status in the U.S.
While any sale would still require approval from Beijing, Trump expressed optimism that Chinese President Xi Jinping "will probably do it" to facilitate the deal. Recently, Trump has postponed the deadline regarding TikTok's compulsory sale for the third time, with the latest stipulation urging parent company ByteDance to finalize a sale by September 17.
It remains uncertain whether the new group of investors mentioned by Trump matches the previous bidder who was interested before negotiations fell apart earlier this year due to trade tensions. In April, U.S. Congress passed legislation compelling TikTok to sell, citing concerns over potential access to American user data by the Chinese government, an allegation that TikTok has consistently denied.
Although Trump previously criticized TikTok, he now views it as a potential asset for his political future as he aims for a 2024 election comeback, supporting the app's continued presence in the U.S. The law enforcing the sale was initially set to be enacted on January 19 but has faced multiple delays under Trump's executive actions, which critics argue undermine the legislative process. TikTok has also challenged the constitutionality of this law but was unsuccessful in its appeal to the U.S. Supreme Court.
While any sale would still require approval from Beijing, Trump expressed optimism that Chinese President Xi Jinping "will probably do it" to facilitate the deal. Recently, Trump has postponed the deadline regarding TikTok's compulsory sale for the third time, with the latest stipulation urging parent company ByteDance to finalize a sale by September 17.
It remains uncertain whether the new group of investors mentioned by Trump matches the previous bidder who was interested before negotiations fell apart earlier this year due to trade tensions. In April, U.S. Congress passed legislation compelling TikTok to sell, citing concerns over potential access to American user data by the Chinese government, an allegation that TikTok has consistently denied.
Although Trump previously criticized TikTok, he now views it as a potential asset for his political future as he aims for a 2024 election comeback, supporting the app's continued presence in the U.S. The law enforcing the sale was initially set to be enacted on January 19 but has faced multiple delays under Trump's executive actions, which critics argue undermine the legislative process. TikTok has also challenged the constitutionality of this law but was unsuccessful in its appeal to the U.S. Supreme Court.
