Just weeks after the third extended sales deadline, President Donald Trump announced on Sunday that he had found buyers of Tiktok’s U.S. business.
Popular social media apps are under tremendous pressure as laws passed in 2024 require its Chinese parent Bytedance to sell the platform or face a nationwide ban. The legislation stems from bipartisan concerns in Washington that the Chinese government can access data from U.S. users or use the app to influence public opinion.
“We have a Tiktok buyer,” Trump told Fox News host Maria Bartiromo in her “Sunday Morning Futures” plan. He suggested the deal still requires Beijing’s approval. “I may need China’s recognition, and I think Xi Jinping may do it.”
Trump remains blurred when forced to obtain more details. He added, “It’s a very wealthy group” and said he would reveal their names in “about two weeks.” He did not provide any other information.
.@potus: “We have a Tiktok buyer…I may need China’s approval, and I think President Xi Jinping may do that…it’s a very wealthy group of people.” pic.twitter.com/n8twyfkjyg
– Quick Response 47 (@RapidResponse47) June 29, 2025
The news follows a period of intense negotiations and political manipulation. The final law passed by Congress in 2024 gives Bondance a 270-day window to sell Tiktok. The deadline was extended for the third time in mid-June, pushing the new date to September 17 and allowing 170 million U.S. users of the app to continue to access the platform now.
According to several reports, almost a deal was reached in early April. The deal would have separated Tiktok’s U.S. business from Bondedance, with a majority stake led by tech firm Oracle, including asset manager Blackstone and entrepreneur Michael Dell. But the deal was reportedly deadlocked after Trump announced a new huge wave of trade tariffs, especially for China.
Recently, Beijing seems more willing to approve certain exports after the two countries reached a “general framework” to normalize trade relations in early June. This can clear the pathways of sensitive algorithms and technologies that will be included in the sale.
Despite geopolitical turmoil, Tiktok’s popularity in the United States remains high. The social network has 170 million users, including 7.5 million business accounts, from large companies to small and medium-sized businesses. According to professional website AppFigures, Tiktok is currently the second largest app to download on Android phones in the United States, second only to Chatgpt.
What happens next, especially whether Trump’s mysterious buyers are real or feasible – not clear. But as the September deadline approaches, political and economic interests surrounding Tiktok’s fate are growing.
