President Donald Trump announced that the United States is in talks with four groups interested in acquiring TikTok, as the future of the Chinese-owned app in the country remains uncertain. A U.S. law has mandated that TikTok must divest from its Chinese parent company, ByteDance, or face a potential ban in the U.S.
When asked on Sunday if a deal for TikTok was imminent, Trump responded, “It could be.” He added, “We’re dealing with four different groups. A lot of people want it, and it’s up to me.” Trump did not name the groups involved but stated, “All four are good.”
The law banning TikTok came into effect on January 19, driven by concerns that the Chinese government could use the app to spy on Americans or manipulate U.S. public opinion. As the deadline approached, TikTok temporarily shut down in the U.S. and was removed from app stores, leaving millions of users disappointed.
After Trump took office for his second term in January, he paused the law’s implementation for two and a half months to seek a resolution with Beijing. As a result, TikTok resumed its services in the U.S. and returned to the Apple and Google app stores in February.
Among the potential buyers of TikTok are a group led by real estate and sports mogul Frank McCourt’s Project Liberty initiative, as well as tech giants Microsoft and Oracle. A group including internet celebrity MrBeast (Jimmy Donaldson) is also in the running.
Despite the interest, TikTok does not appear eager to sell. During his first term, Trump had attempted to ban the app in the U.S. over national security concerns.
