Trump Reviews Final TikTok Sale Proposals as 5 April Deadline Approaches

By
Noreen Shazreen
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President Donald Trump will review a final proposal for TikTok’s future in the United States today, as the 5 April deadline for the app’s Chinese parent company ByteDance to sell its stake or face a potential ban rapidly approaches.

The high-stakes meeting in the Oval Office will include Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Advisor Mike Waltz, and Director of National Intelligence Tulsi Gabbard, according to sources familiar with the planning.

Administration officials are finalising plans for potential investors that could include Blackstone and Oracle, along with various private equity firms, venture capital firms, and major technology industry investors.

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The meeting comes just three days before the Saturday deadline Trump set for ByteDance to divest its stake in TikTok or potentially face a ban in the U.S. market.

The popular video-sharing platform, used by approximately 170 million Americans, has been under scrutiny due to concerns about its Chinese ownership.

Last year, lawmakers passed legislation requiring ByteDance to sell TikTok by 19 January 2025, citing national security concerns. However, Trump signed an executive order upon taking office that granted a 90-day extension until 5 April.

The law mandates that after divestiture, ByteDance can hold no more than a 20 per cent stake in TikTok’s U.S. operations.

Additionally, the U.S. operations cannot coordinate with ByteDance on algorithmic or data-sharing practices.

Potential Buyers and Proposals

Several potential buyers have emerged in recent months:

  • A consortium organised by billionaire businessman Frank McCourt, which recently recruited Reddit co-founder Alexis Ohanian as a strategic adviser, has reportedly offered ByteDance $20 billion for TikTok’s U.S. platform.

  • Jesse Tinsley, founder of payroll firm Employer.com, claims to have organised a consortium including the CEO of Roblox, offering ByteDance more than $30 billion for TikTok.

  • Other interested parties include Trump’s former Treasury secretary Steve Mnuchin, video site Rumble, and potentially Microsoft.

The leading plan appears to involve ByteDance’s existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, contributing fresh capital to bid for TikTok’s U.S. business.

Trump’s Position

Trump has repeatedly expressed his desire to keep TikTok operational in the United States.

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“We have a lot of potential buyers. There’s a lot of interest in TikTok. The decision is going to be my decision,” Trump told reporters aboard Air Force One over the weekend.

Trump has indicated he might extend the deadline further if needed. He has also suggested he could reduce tariffs on China if the country approves a sale of TikTok’s U.S. operations.

“One percentage point in tariffs with China… could potentially be worth more than all of TikTok, given its value,” Trump stated to reporters on Monday.

Challenges to a Deal

It remains uncertain whether ByteDance is willing to sell TikTok, as the company stated early last year it does not plan to do so.

The Chinese government’s approval would likely be necessary for any sale, adding another layer of complexity to the negotiations.

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Critics, including some Republican lawmakers, have expressed concerns that certain proposals might fail to comply with the law if they leave unresolved issues regarding China’s potential access to sensitive data or ability to use the app to spread propaganda.

If TikTok is not sold to an approved buyer by 5 April, the original law banning it nationwide would go into effect, though Trump has the authority to extend the deadline.

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Noreen Shazreen
Email: [email protected]