ByteDance Faces Deadline to Sell TikTok’s U.S. Assets Amid Trade Tensions
China’s ByteDance, the parent company of TikTok, is up against a looming Saturday deadline to sell its U.S. assets to a non-Chinese buyer. This deadline, set by former President Donald Trump in January, comes with the threat of a TikTok ban under a 2024 law that was intended to take effect earlier this year.
Trump recently said his administration is “very close” to finalizing a deal on TikTok, with multiple investors involved in the discussions. A White House official confirmed Friday that President Trump would announce any news about the future of TikTok when he chooses to do so.
The comments came just after Trump imposed a 10% baseline tariff on all imports to the United States and increased tariffs on some of its largest trading partners. As a result, China now faces a 54% tariff on goods exported to the U.S., adding pressure to ongoing trade negotiations.
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While TikTok has not yet responded to requests for comment, reports suggest that private equity firm Blackstone is considering a small minority investment in TikTok’s U.S. operations. Two sources familiar with the matter confirmed that talks were ongoing.
Earlier, Reuters reported that the plan for TikTok’s future might involve ByteDance’s biggest non-Chinese investors raising their stakes and taking control of TikTok’s U.S. business. These discussions could signal a shift in TikTok’s ownership structure in the coming months.
Trump has stated that his administration is in talks with four different groups about a potential deal involving TikTok, though he has not named them publicly.
As the deadline approaches, all eyes are on the future of TikTok in the U.S. and what actions the government will take to ensure the app remains operational or faces restrictions.
ByteDance Faces Deadline to Sell TikTok’s U.S. Assets Amid Trade Tensions
