TikTok is about to be saved

TikTok, a platform used by more than half of the US population, could disappear from the country if there is no new deal by the end of the week. Photo: Reuters .

President Donald Trump said a deal with ByteDance, TikTok's Chinese parent company, to sell the short-video platform, which has 170 million U.S. users, will be completed ahead of schedule.

In 2023 and 2024, the US Congress continued to put pressure on TikTok. A new bill passed in 2024 required TikTok to be sold to a non-Chinese company by April 5 or face being banned in the US.

“We have a lot of potential buyers,” Trump told reporters aboard Air Force One on the evening of March 30 (local time). He said TikTok had received a lot of interest, and he himself wanted the platform to continue operating after wanting to ban it in 2020.

Previously, private equity fund Blackstone was one of the leading candidates considering investing a small stake in TikTok's US business.

If a deal is reached, Blackstone would join ByteDance's existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic.

Mr Trump said he was prepared to extend the deadline if a deal with TikTok was not reached. He also acknowledged the role of the Chinese government in this, and suggested that he could reduce tariffs on China to speed up the process.

Vice President JD Vance said he expects a deal to resolve ownership of the social media platform by April 5.

Bytedance, the parent company of the social media platform used by more than half of the US population, was required to divest by January 19. However, Mr. Trump has given TikTok until April 5 to find a non-Chinese buyer.

The White House has been involved in the deal negotiations to an unprecedented extent, acting as an investment banker, helping to screen suitable investors.

President Trump has been trying to drum up interest in TikTok, including from major corporations like Microsoft and Oracle. Billionaire Elon Musk, one of his closest allies, may be interested in TikTok, but there is no concrete evidence to support the rumor.

Source: https://znews.vn/tiktok-sap-duoc-cuu-post1542060.html