President Donald Trump recently commented on the potential sale of TikTok to American investors, suggesting that the Chinese government would approve the deal "in 15 minutes" if tariffs were reduced. This statement was made aboard Air Force One and follows reports indicating that the U.S. was nearing an agreement for TikTok’s U.S. operations to be spun off into a new company with American ownership. However, the deal has faced delays as the Chinese government has cited the Trump administration’s tariffs as a significant hurdle.
During his remarks, Trump asserted that a previous agreement was close to being finalized with investors, the U.S. government, and ByteDance, TikTok’s parent company, which would retain a minority stake in the new entity. He emphasized the influence of tariffs in the negotiations, suggesting that a minor concession on tariffs could expedite the approval process from China.
In recent developments, Trump extended a deadline for ByteDance to divest TikTok to an American buyer or face a potential shutdown in the U.S. He stated that his administration has made considerable progress towards a deal and signed an Executive Order allowing TikTok to continue operating for an additional 75 days.
The urgency to resolve the TikTok situation has been underscored by congressional actions, including the passage of the Protecting Americans from Foreign Adversary Controlled Applications Act, which mandates that TikTok must divest from ByteDance or face removal from U.S. app stores and hosting services within nine months. The platform, reportedly used by 170 million Americans, faced temporary removal from U.S. app stores earlier this year as negotiations remained unresolved.