Donald Trump will consider a “final proposal” for TikTok’s US operations on Wednesday, as a Saturday deadline approaches for the Chinese-controlled app to find a buyer. The White House is finalizing plans involving US investors, including tech firm Oracle and private equity firm Blackstone.
TikTok’s parent, ByteDance, has until April 5 to sell the app’s US unit or face a ban under a presidential executive order.
High-Level Meeting Set for Wednesday
Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard will meet in the Oval Office on Wednesday to discuss the issue. The White House is effectively running the auction, with Vance reportedly leading the process.
Potential Investors Line Up
The transaction will involve new investors like Blackstone joining existing non-Chinese ByteDance shareholders in providing fresh capital. Current non-Chinese investors include Susquehanna International Group and General Atlantic. Venture capital firm Andreessen Horowitz is also reportedly in discussions to invest.
Trump: “I’d Like to See TikTok Remain Alive”
Trump stated a deal would be struck before Saturday’s deadline. “We have a lot of potential buyers. There’s tremendous interest in TikTok,” he told reporters, adding: “I’d like to see TikTok remain alive.”
The president told Fox News negotiations aren’t yet tied to a China tariff deal, but he is “flexible” and might “take a couple of points off” tariffs if he approves something.
Decision Rests with the President
Trump is set to announce global tariffs on “liberation day” Wednesday. “The decision’s going to be my decision,” Trump told Fox News. “Through Congress, they’ve given me the power to make that decision.”
During his campaign, Trump said he would “never ban TikTok,” though in his first term he advocated for such action, citing national security concerns.
Background on the Ban Threat
Trump set the deadline in January for TikTok to find a non-Chinese buyer or face a US ban. Lawmakers passed a bill setting a January 19 deadline, but Trump granted a 75-day extension for a potential deal.
The talks are centering on a plan for the largest non-Chinese ByteDance investors to increase their stakes and acquire TikTok’s US operations.