Trump says he has a buyer for TikTok, but won’t reveal who for ‘two weeks’

In a recent announcement, U.S. President Donald Trump revealed that he has found a buyer for the American branch of the popular Chinese app TikTok, although he plans to keep the buyer's identity secret for the next two weeks. During an interview on Fox News' Sunday Morning Futures, Trump mentioned that the acquisition would be made by a "group of very wealthy people." Trump expressed confidence in obtaining necessary approvals from China, stating, "I think I’ll need probably China approval and I think President Xi will probably do it." Additionally, the President indicated a willingness to extend the deadline for the TikTok ban for a third time, allowing the company 90 more days to finalize the sale of its U.S. operations beyond the previously set date of June 19. According to Bloomberg, negotiations for the U.S. arm of TikTok were moving forward prior to Trump's announcement of reciprocal tariffs in April. A consortium of U.S. investors, which reportedly included major players like Oracle Corp., Blackstone Inc., and venture capital firm Andreessen Horowitz, was close to finalizing a deal at that time. However, tensions between the U.S. and China over tariff discussions have stalled progress on the sale since then. A bipartisan law passed by Congress last year mandated either a sale of TikTok to American buyers or a ban due to national security concerns linked to its Chinese ownership. TikTok faced a brief ban in the U.S. before Trump took office, but he quickly extended its operational status. Notably, scrutiny over TikTok began during Trump's first term when he initially sought to impose a ban, but he has since softened his stance, acknowledging the app's role in garnering support among younger voters during the last election. "I have a little warm spot in my heart for TikTok," Trump remarked in an NBC interview in May.