Vice President JD Vance expressed optimism on Friday regarding the potential completion of a deal to ensure TikTok’s continued operation in the U.S. by the early April deadline. Vance mentioned that there is likely to be a significant agreement addressing national security concerns and paving the way for the establishment of an American-owned TikTok entity. This statement was made during an interview with NBC News aboard Air Force Two.
Concerns surrounding the fate of the popular video-sharing app have persisted since a law mandating its China-based parent company to divest or face a ban came into effect on January 19. President Donald Trump granted TikTok a 75-day reprieve via an executive order signed after taking office, pushing the enforcement of the statute to April 5. Trump enlisted the help of Vance and National Security Adviser Michael Waltz in finding an acceptable buyer. During discussions aboard Air Force One on Sunday, Trump mentioned ongoing negotiations with “four different groups” and hinted at an imminent deal.
Despite this, TikTok and ByteDance, its parent company, have refrained from public statements on the matter. It remains uncertain if ByteDance has altered its stance on selling TikTok, as it previously indicated no plans for such a move. Following their initial objections, ByteDance and TikTok contested the federal law in court, only to lose their case at the U.S. Supreme Court in January.
Vance did not disclose potential buyers but acknowledged that certain complexities might delay a final agreement beyond April 5. While aiming to avoid an extension, Vance emphasized the intricacies surrounding equity ownership in the new joint venture and the extensive legal documentation required for investors, customers, and service providers. Trump has hinted at the possibility of extending the deadline further if necessary and suggested U.S. involvement in a joint venture to a 50% extent without elaborating on the specifics of such an arrangement.
