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On Friday, President Donald Trump said the U.S. is poised to resume negotiations with China as early as Monday or Tuesday over a potential deal involving TikTok's U.S. operations.
What Happened: Speaking to reporters on Air Force One, Trump said that the U.S. "pretty much" has a deal in place for the ByteDance-owned video app, reported Reuters.
"I think we’re gonna start Monday or Tuesday… talking to China, perhaps President Xi or one of his representatives," Trump said. "We pretty much have a deal."
When asked how confident he was about Beijing’s cooperation, Trump responded, "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."
See Also: Microsoft, Rivian, Intel Slash Jobs In June Tech Layoff Spree
Why It's Important: TikTok's fate has become a high-stakes issue at the intersection of national security, data privacy and U.S.-China trade tensions.
The original plan — which involved spinning off TikTok's U.S. assets into a new, American-controlled company — had stalled earlier this year after Trump announced sweeping tariffs on Chinese imports.
In response, China signaled it would block any forced divestment, delaying the deal's progress.
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Last month, Trump extended the deadline for TikTok's Chinese parent company, ByteDance, to divest U.S. operations until Sept. 17. The president said a final deal would likely require China’s sign-off.
Before the widespread tariffs were announced in April, a deal appeared likely, with a group of U.S. investors — including Oracle Corp. (NYSE:ORCL), Blackstone Inc. (NYSE:BX) and the venture capital firm Andreessen Horowitz — showing interest.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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