Trump announces Tikkok buyer in about two weeks

Trump announces Tikkok buyer in about two weeks

In an interview that was broadcast on Sunday, President Donald Trump confirmed that there is a "buyer for Tiktok". He indicated that an official announcement will be made in "about two weeks".

Details on Tikok takeover

"We have a buyer for Tikkok. I think I will probably need China's approval, and I think President XI will probably do it," said the President on the program "Sunday Morning Futures" with Maria Bartiromo on Fox News. When asked who the buyer will be, Trump replied: "I will say that in about two weeks." He added: "It is a group of very wealthy people."

legislation and delays

A law has been in force for about five months that would ban Tikok in the United States, unless the app sells the parent company originally based in China. Thanks to President Donald Trump's promise not to enforce the law, none of these measures have been implemented, apart from an almost 14-hour failure in January.

Expansion of the deadline

The President signed three regulations instead, which signed the enforcement of the ban . When the cut-off date on June 19, Trump Tiktok granted a 90-day extension of the deadline. The new date for the transfer of the control of bytedance via TikTok's US operations is now September 17th.

Questions about the future of TikTok

The delay raises questions about the status of a possible deal that could secure the long -term future of Tiktok in the United States. The Chinese government has given little public evidence that it would be willing to approve a sale, and indicated that a deal "algorithm" deal, which is considered the "secret recipe" of the app, could not contain.

failed negotiations

In April a deal would almost have been completed, which would have transferred the majority control over Tikkok's US farms to American owners. But this failed after Trump announced additional tariffs in China, which forced the president to announce another 75-day delay in order to keep the app in the United States.

statements about the legal situation

"There are important points that have to be clarified. Every agreement will be subject to approval under Chinese law," said the parent company Tikoks, Bytedance after Trump's customs policy had stopped the progress of the deal in April.

political background

The former President Joe Biden signed the law on sales or prohibition regulation last year, which came into force on January 19. Tikok took offline at short notice, which resulted in an outcry among the creators, but quickly came back after Trump signed his first order to delay the ban for 75 days. This was one of his first acts as President, hoping to achieve a deal to "keep the app alive".