President Trump announced plans to initiate negotiations with China in the upcoming week regarding a potential agreement concerning the popular video-sharing platform TikTok. Trump expressed confidence in the progress, stating, “We pretty much have a deal. I think we are gonna start Monday or Tuesday asking, talking to China, perhaps President Xi [Jinping] or one of his representatives, but we pretty much have a deal,” during a briefing on Air Force One late Friday.
The President acknowledged that the deal will likely require approval from China, stating, “Not definitely, but probably.” This development follows Trump’s executive order in mid-June to grant a 90-day extension for TikTok’s parent company, ByteDance, to divest from Chinese ownership, relocating the deadline to September 17.
This marked the third extension signed by Trump since returning to office in January. The order directed the Justice Department to refrain from enforcing the law or imposing penalties associated with the legislation. Last year, former President Biden signed a law mandating ByteDance to sell TikTok to avoid a potential ban on U.S. networks.
Trump emphasized his positive relationship with President Xi, mentioning that the deal would be mutually beneficial. He stated, “I think it’s good for them. I think the deal is good for China, and it’s good for us and for us, it’s money.”
Furthermore, Trump disclosed in a late June interview that a buyer had been identified for TikTok. When asked about the buyer by Fox News host Maria Bartiromo, the President teased, “I’ll tell you in about two weeks,” adding that the potential buyers were “very, very wealthy people.”
