Trump Confirms Deal for TikTok With U.S. Buyers
President Donald Trump announced on Tuesday that the U.S. and China have reached a deal to keep TikTok operating in the United States. Under the agreement, TikTok’s U.S. assets will be transferred from ByteDance to American owners, potentially ending a year-long dispute.
The popular social media app, used by over 170 million Americans, has been at the center of tense trade negotiations between Washington and Beijing. Trump said several large U.S. companies are ready to acquire TikTok, but did not disclose names. He praised the deal as a “win-win” for both nations and noted that it could preserve tens of billions of dollars in value.
Parents and young users alike had pressured the government to keep TikTok available. Trump even credited the app with boosting his re-election campaign, pointing out his personal account now has 15 million followers. The White House also launched an official TikTok account last month.
Any agreement may require Congressional approval. Lawmakers had previously passed legislation under the Biden administration in 2024 requiring TikTok to divest, citing concerns that China could access U.S. user data or use the app for influence campaigns. While the Trump administration delayed enforcement several times, the new deal could finally resolve these national security fears.
According to CNBC, the transaction should close within 30 to 45 days. The plan involves both current ByteDance investors and new U.S. investors, with Oracle expected to continue hosting TikTok data on its cloud servers. Oracle’s shares rose nearly 3% following the news.
Talks over TikTok had stalled earlier this year after Trump introduced steep tariffs on Chinese imports, sparking fresh trade tensions. Washington has consistently argued that ByteDance’s ownership ties TikTok to the Chinese government, while TikTok insists its U.S. operations are independent, with data stored domestically and decisions made in the U.S.
A framework agreement was reached Monday between American and Chinese officials, with final confirmation expected during a call between Trump and President Xi Jinping on Friday. Several major investors, including former Los Angeles Dodgers owner Frank McCourt, Amazon, and other firms, had expressed interest. Analysts estimate TikTok’s U.S. business could be worth as much as $50 billion.
