The TikTok sale could soon become a reality, with U.S. President Donald Trump revealing he has secured buyers described as a group of “very wealthy people.” However, the final green light might still rest with Chinese President Xi Jinping.
Speaking in a Fox News interview aired Sunday, Trump shared that he expects to disclose the names of TikTok’s prospective new owners within two weeks. These comments came during his appearance on Sunday Morning Futures with Maria Bartiromo, where he stressed the deal would likely require Beijing’s sign-off to proceed.
“I think I’ll need probably China’s approval. I think President Xi will probably do it,” Trump remarked.
His optimism hinges on China’s willingness to clear the path for ByteDance, TikTok’s China-based parent company, to finalize the sale.
The proposed TikTok sale has faced multiple hurdles. Earlier this month, Trump extended a deadline requiring ByteDance to divest TikTok’s US assets until September 17. This extension came despite a 2024 law that ordered TikTok to either secure a sale or shut down operations by January 19 unless there was clear progress.
A potential agreement had taken shape this past spring. That plan would have spun off TikTok’s US operations into a new American company, majority-owned and managed by US investors. However, the effort stalled after China signaled it wouldn’t back the deal, especially in light of Trump’s earlier steep tariffs on Chinese goods.
Trump has openly credited TikTok for strengthening his support among younger voters during last November’s presidential election. Because of this, he has already granted three deadline extensions, keeping hopes alive that a sale could still materialize under his watch.
Whether the TikTok sale finally closes will now depend heavily on diplomatic dynamics. For now, Trump remains confident that President Xi will endorse the plan, potentially opening a new chapter for one of the world’s most popular social media apps.