Trump says TikTok has found US buyer, deal may need Congress approval | World News

Trump did not share details of the agreement. (AP)

US President Donald Trump said on Tuesday that the United States has reached a deal that will keep TikTok running in the country, with its American assets moving into US-controlled ownership.

Speaking about the agreement, Trump told reporters: “We have a deal. TikTok will remain in the United States under US ownership.”
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The short-video app, owned China’s teDance, has about 170 million users in the US The deal is meant to address a 2024 law, passed under former President Joe Biden, that required teDance to sell TikTok’s US operations because of concerns that American user data could be accessed Beijing.

Trump did not share details of the agreement. Reuters reported that any deal may need the approval of the Republican-controlled Congress.

The Trump adminration had previously delayed enforcing the shutdown order three times, citing the app’s popularity. Trump himself has said TikTok played a role in his re-election last year, and his account has about 15 million followers. The White House also opened an official TikTok account last month.

CNBC reported that the deal could close in 30 to 45 days and would include both current investors in teDance and new US investors. Reuters has not independently confirmed this.

A similar plan was under discussion earlier this year to spin off TikTok’s US business into a new company majority-owned US investors, but China did not approve it at the time, after Trump announced new tariffs on Chinese goods.