After Three Extensions, Will TikTok Finally Find a Buyer?... Trump Says "Announcement Soon"

Trump: "Wealthy Individuals Want to Acquire TikTok"
Promises to Reveal Buyer in Two Weeks
Chinese Approval for Core Technology Export Is Key Variable

U.S. President Donald Trump has reignited discussions over the sale of the Chinese-owned video platform TikTok by mentioning the existence of potential buyers. However, there are observations that the actual completion of the sale will depend on the Chinese government's approval for technology exports and the determination of President Xi Jinping.

On June 29 (local time), President Trump stated in an interview with Fox News, "Very wealthy individuals are interested in acquiring TikTok," and added, "We will reveal the identity of the buyer within two weeks."

President Trump said, "It seems that approval from China will likely be necessary, but I believe President Xi Jinping will grant it," expressing confidence in obtaining Chinese approval, which is the biggest risk to closing the deal. It appears that President Trump judged the likelihood of TikTok's sale being approved has increased, as he recently signed an official trade agreement with China, creating a thaw in relations between the two countries.

Previously, former President Joe Biden signed the "TikTok Ban Act (PAFACA)" last year, which took effect to prohibit the use of TikTok in the U.S. if ByteDance does not sell TikTok's U.S. operations by January 19, 2025. This measure was based on national security concerns that TikTok could collect personal information from Americans and influence public opinion.

However, when the sale fell through, ByteDance temporarily suspended TikTok's service, resulting in access being blocked for about 12 hours. President Trump stepped in as TikTok's "relief pitcher." During last year's presidential election, he believed TikTok contributed to bringing in young supporters and has maintained a relatively favorable stance toward the platform.

On his inauguration day, President Trump issued an executive order postponing the ban for 75 days, thereby normalizing the service. Since then, the sale deadline has been extended three times?in January, April, and June?and is currently set for September 17.

While the emergence of specific acquisition candidates has raised expectations for a deal, the Chinese government's approval remains the biggest variable. Earlier this year, negotiations for an acquisition led by an Oracle consortium nearly reached completion, but in early April, after President Trump imposed high tariffs on Chinese products, the Chinese side announced it would not approve the sale. At that time, a spokesperson for China's Ministry of Commerce emphasized that the sale of TikTok must comply with Chinese laws and market economy principles, and that the export of core technology, such as the "algorithm," must go through government approval.

Reuters recently reported, "Even if a sale is completed, it remains uncertain whether China will allow ByteDance to relinquish TikTok's core algorithm or its U.S. operations."

This content was produced with the assistance of AI translation services.