TikTok Deal: Trump to Meet with Aides on Potential Investors
Los Angeles (AP) — President Donald Trump is set to hold a meeting with his aides about possible investors who could buy a stake in TikTok, a deal that could potentially stop the social media site from being banned in the United States.
The details of the meeting were confirmed by a person familiar with the situation who spoke on condition of anonymity to discuss internal deliberations.
There has been uncertainty about the popular video app after a law took effect on January 19 requiring its China-based parent, ByteDance, to divest its ownership because of national security concerns. After taking office, Trump gave TikTok a 75-day reprieve by signing an executive order that delayed until April 5 the enforcement of the law requiring a sale or effectively imposing a ban.
Among the possible investors are the software company Oracle and the investment firm Blackstone.
Who Will Attend the Meeting?
Likely to attend the Oval Office meeting with Trump on Wednesday are Vice President JD Vance, Commerce Secretary Howard Lutnick, White House national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
Trump's Comments on TikTok
Talking to reporters Sunday while on Air Force One, Trump said he would “like to see TikTok remain alive.” He previously indicated that he might consider reducing tariffs against China if the country approves the sale.
During his first term, Trump tried to ban TikTok on national security grounds, which was halted by the courts before his administration negotiated a sale of the platform that eventually failed to materialize. He changed his position on the popular app during last year’s presidential election and has credited the platform with helping him win more young voters.
“I won the young vote by 36 points. Republicans generally don't do very well with the young vote,” he said Sunday. “I think a lot of it could have been TikTok.”
What Will Happen on April 5?
If TikTok is not sold to an approved buyer by April 5, the original law that bans it from the US will take effect.
The decision to keep TikTok alive through an executive order has received some scrutiny, but it has not faced a legal challenge in court.
Who Wants to Buy TikTok?
Although it’s unclear if ByteDance plans to sell TikTok, several potential bidders have come forward in the past few months.
Aides for Vice President JD Vance have reached out to some parties, such as the artificial intelligence startup Perplexity AI, to get additional details about their bids.
Other potential bidders include a consortium organized by billionaire businessman Frank McCourt and investors who've offered ByteDance $20 billion in cash for TikTok’s U.S. platform.
Jesse Tinsley, the founder of the payroll firm Employer.com, says he too has organized a consortium which includes the CEO of the video game platform Roblox, and is offering ByteDance more than $30 billion for TikTok.