President Donald Trump revealed that he has identified a potential buyer for the popular video-sharing app TikTok, which was recently banned in the US due to concerns over national security.
During an interview with Fox News, Trump stated that a group of “very wealthy people” have expressed interest in acquiring the platform. He also hinted that an official announcement could be made in the next two weeks.
While the sale would need approval from the Chinese government, Trump expressed confidence that President Xi Jinping would approve it.
This is the third time that Trump has delayed the enforcement of a law that requires TikTok to be sold. The latest extension gives parent company ByteDance until September 17th to reach a deal.
The BBC has reached out to TikTok for comment.
A previous attempt to sell TikTok to an American buyer fell through in April, as the White House and China clashed over Trump’s tariffs. It is unclear if the current potential buyer mentioned by Trump is the same one from three months ago.
Last year, the US Congress passed a law mandating TikTok’s sale, citing concerns that the app could share user data with the Chinese government. TikTok has denied these allegations.
Initially, Trump had criticized the app, but later saw it as a factor in his potential re-election in 2024 and now supports its continued use in the US.
The law was originally set to take effect on January 19th, but Trump has repeatedly delayed its enforcement through executive actions, which have been met with criticism for overriding the decisions of Congress.
TikTok challenged the constitutionality of the law, but their appeal to the US Supreme Court was unsuccessful.