Key Points
- The deal requires the Chinese government’s approval
- Trump says the deal is good for China and, US
WASHINGTON: US President Donald Trump has announced that he will begin discussions with China on Monday or Tuesday regarding a potential TikTok deal.
He said the US “pretty much” has a deal on the sale of the TikTok short-video app.
“I think we’re gonna start Monday or Tuesday […] talking to China, perhaps President Xi Jinping or one of his representatives, but we would pretty much have a deal,” Trump told reporters on Air Force One.
Last month, President Trump extended the deadline to September 17 for China-based ByteDance to divest TikTok’s US assets.
Earlier this spring, a deal was in progress to spin off TikTok’s US operations into a new, US-based company majority-owned and operated by American investors. However, the plan was put on hold after China signaled it would not approve the deal, following Trump’s announcement of steep tariffs on Chinese imports.
Trump has since acknowledged that any potential deal will likely require approval from the Chinese government.
When asked how confident he was that China would agree to a deal, he said, “I’m not confident, but I think so”.
“President Xi and I have a great relationship, and I think it’s good for them. I think the deal is good for China, and it’s good for us.”
Last week, during an interview with Fox News, President Trump claimed to have found a buyer for TikTok.
China has already reiterated its stance on TikTok, following comments by US President Donald Trump that a “group of wealthy individuals” intends to purchase the popular social media platform, a deal that would require approval from the Chinese government.
China has previously lauded the ‘positive role’ played by TikTok in promoting domestic employment and boosting consumption in the US.
Regarding business operations and acquisitions: “They should be independently decided based on market principles,” Foreign Ministry spokesman Guo Jiakun said in January.
“If Chinese companies are involved, such actions should comply with Chinese laws and regulations,” Guo said.
