US President Donald Trump still hopes for TikTok acquisition

On April 9, US President Donald Trump said that the potential deal to buy TikTok in the US is still under negotiation.

The announcement came after Trump decided to extend the deadline by 75 days for ByteDance Group (China) - the parent company of TikTok - to sell its US operations to a non-Chinese company.

Speaking to reporters in the Oval Office, President Trump said he and his team have reached an agreement with trusted partners, wealthy companies that are believed to be capable of effectively implementing the plan.

However, he said he would wait for China's response and the deal was still under negotiation.

On April 4, President Trump signed an executive order granting ByteDance a 75-day extension to sell its US operations to a non-Chinese company. Otherwise, the popular video- sharing platform will be banned entirely in the US.

While Mr. Trump defended his position, some senators such as Mark Warner and Ed Markey said that the President did not have the legal authority to extend the above decision.

Mr Warner said the deal under consideration would not meet legal requirements.

On April 9, Senator Markey tried to push a proposal to extend the deadline until October, but it was not approved by the Senate.

This is the second time President Trump has used executive power to temporarily delay the implementation of the law signed by President Joe Biden in April 2024, which requires ByteDance to sell TikTok within 270 days on national security grounds.

The original deadline was January 19, 2025, but after taking office for a second term on January 20, Mr. Trump postponed the law's implementation to continue negotiations.

According to US media, a deal was preliminarily finalized on April 2, under which TikTok US will be separated into a new US-based company, with the majority of shares held by US investors, and ByteDance retaining less than 20% of the shares.

The plan has received approval from ByteDance, its investors and the US government. This arrangement is expected to ease concerns about China controlling US user data, as TikTok currently has up to 170 million users in this country.

A source close to US investors said negotiations on a potential deal were continuing ahead of the June 19 deadline, but the US and Chinese governments first needed to resolve the tariff dispute./.

(Vietnam News Agency/Vietnam+)

Source: https://www.vietnamplus.vn/tong-thong-my-donald-trump-van-ky-vong-vao-thuong-vu-mua-tiktok-post1026872.vnp