Former U.S. President Donald Trump announced that an agreement for the sale of TikTok by the Chinese company ByteDance would be reached by April 5—the previously set deadline. Trump made this statement to reporters aboard Air Force One on Sunday, according to Reuters.
In January, Trump set April 5 as the deadline for TikTok to be sold to a non-Chinese buyer. Otherwise, the app could face a ban in the U.S. due to national security concerns.
According to Reuters, the investment firm Blackstone is considering making a small minority investment in TikTok’s U.S. operations. Blackstone is discussing participating in the deal alongside existing non-Chinese shareholders of ByteDance, including Susquehanna International Group and General Atlantic, which have emerged as leading bidders.
Washington fears that TikTok’s ownership by ByteDance makes the platform dependent on the Chinese government, which, according to U.S. authorities, could use it to influence the United States and collect user data.
Previously, Trump had suggested the possibility of extending the deadline if a deal was not reached in time. He also acknowledged that China would play a key role in the final decision regarding TikTok’s sale.
The future of TikTok remains uncertain, as a 2024 law requires ByteDance to sell the platform by January 19. In January, TikTok even temporarily suspended its operations in the U.S.
