Trump: TikTok sale agreement to be completed by April 5

On Sunday, President Trump announced that a sale agreement will be reached with ByteDance, the Chinese parent company of TikTok, before the deadline on Saturday, April 5. This deal would allow the popular short-video platform, with 170 million users in the United States, to be acquired.

According to a law passed by the U.S. Congress in 2024, the TikTok ban was originally set to take effect on January 19, 2025. However, President Trump extended the deadline to April 5 after taking office in January and demanded that TikTok be sold to a non-Chinese buyer by that date, or else face a complete ban based on national security reasons.

President Trump, speaking to reporters on Air Force One on Sunday evening, stated, “We have a lot of potential buyers. There is tremendous interest in TikTok from everyone.”

Trump emphasized that the ultimate decision on the sale of TikTok lies with him.

“The ultimate decision is mine… we have a great team, we are receiving bids,” Trump added. “At the same time, we are also talking to the Chinese, as they might be involved in the deal to see how it progresses.”

“I hope TikTok can continue to exist,” Trump said.

When asked whether the agreement could be completed before the deadline on Saturday and if he would extend the deadline if a deal is not reached, Trump replied, “Well, the TikTok deal will be completed. We will complete it.”

TikTok did not immediately comment on the matter.

Sources revealed that the private equity firm Blackstone is considering joining the existing shareholder consortium led by Susquehanna International Group and General Atlantic to invest in the acquisition of TikTok’s U.S. operations. This consortium has become one of the main contenders in the acquisition deal.

The U.S. government believes that TikTok’s ownership by ByteDance could potentially be influenced by the Chinese Communist Party, with Beijing having the ability to use the platform to shape American public opinion and collect data on U.S. users.

Trump has stated that if an agreement is not reached in the end, he is willing to extend the transaction deadline.

Last week, Trump also acknowledged the crucial role Beijing plays in reaching this agreement, including the potential need for approval from the Chinese government. He said, “I might offer them a bit of tariff relief or other conditions to facilitate this deal.”

Vice President Vance anticipates that the key terms of the TikTok transaction agreement will be reached before April 5.

Since the law was passed in 2024, the future of TikTok has been uncertain. The legislation garnered overwhelming bipartisan support, requiring ByteDance to sell TikTok assets no later than January 19, 2025.

The level of White House involvement in this transaction is unprecedented, with the administration almost acting as an investment bank, deeply engaged in the highly anticipated negotiation of this deal. Currently, the transaction is in its final stages, with the public closely watching whether a formal agreement can be announced before Saturday.