Trump Says He Has a US Buyer for TikTok
Checking in on the U.S. TikTok saga, on the 162nd day since the app was banned in the U.S. by federal law.
Of course, TikTok hasn't actually been banned despite this, because U.S. President Donald Trump has 'a warm spot' in his heart for the app, and keeps delaying enforcement of the law via executive orders. But technically, TikTok should not be available to Americans, as it hasn't established a deal with a U.S. partner, in line with legislation.
So are we any closer to reaching a new agreement on this front?
Well, that depends on which reports you choose to believe.
According to Trump himself, a deal is all but finalized, with 'a group of very wealthy people' ready to sign on to partner with TikTok's parent company ByteDance on a new regional agreement.
President Trump told Fox News' 'Sunday Morning Futures' program that:
'We have a buyer for TikTok by the way. I think I'll need probably China approval, and I think President Xi will probably do it, you know?'
Trump said that he'll have more to share on the deal in 'about two weeks,' with, again, a group of very wealthy partners ready to invest in the U.S. operations of the app.
Which, given the various names floated as potential U.S. buyers for the platform makes sense, as everyone from Oracle's Larry Ellison, to Shark Tank's Kevin O'Leary, to YouTube celebrity MrBeast has reportedly put in a bid for the American stake of the app.
Who, exactly, Trump is referring to, however, we can only speculate, but Oracle has long seemed like the most logical partner for the platform, given its past relationship with TikTok U.S.
Back in April, The Information reported that a new entity called 'TikTok America' would be formed to meet the app's legal ownership requirements, which would be 50% owned by a consortium made up of Oracle, Blackrock, and Andreesen Horowitz, among others.
Trump's latest statements seemingly point to this being the likely make-up of the final deal, which would also see ByteDance retain a 19.9% stake in the app.
So it does seem like a U.S. TikTok deal is close, but then again…
Last week, Axios reported that TikTok sales negotiations had stalled, with some potential suitors, including billionaire Frank McCourt, saying that things had gone very quiet in the lead-up to the latest ban extension.
As per Axios:
'Negotiations between potential bidders and the White House were being led by the vice president's office, but talks slowed ahead of the third ban delay […] U.S. bidders remain eager to strike a deal, but getting the Chinese government's sign-off will require intervention from the U.S. government, which is currently distracted by several other foreign policy obstacles.'
Of course, both of these reports may well be true. It could be that the White House is already closing in on one deal, which is freezing out other bidders, which would make it appear as though things had stalled, when actually an agreement is closer than ever.
But we don't know, and no one outside of the U.S. officials arranging the sale, and the Chinese government executives negotiating the same, can actually provide any direct insight into what's happening.
And aside from President Trump, there's nothing else to go on at this stage.
So maybe we're closer to the end, but it does ultimately seem to hinge on broader foreign policy developments, and the progression of U.S.-China trade talks leading into the next TikTok sale deadline.
Which is now set to come into effect on September 17th.
So maybe we get an update before then, though I wouldn't be expecting anything much for a while yet, given the extended timeline, and the negotiations still to come with Chinese officials.
They haven't been rushed to make a deal thus far, and I don't see why they will be now, given the knowledge that Trump will likely just extend the negotiation period once again if things can't be worked out.
Which, despite some legal and regulatory concerns, he can do, by submitting further executive orders to withhold enforcement of the TikTok ban.
So maybe we hear something in the next two weeks, but probably not, and the only real deadline we have is still some time away.
Recommended Reading
Trump Says He May Extend TikTok Sell-off Deadline Once Again
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UPI
4 minutes ago
- UPI
Trump announces trade deal with Vietnam; says deal with Japan unlikely
President Donald Trump on Wednesday announced a trade deal with Vietnam, under which Vietnamese imports to the United States will be subject to a 20% tariff while the United States will have tariff-free access to Vietnamse markets. Photo by Yuri Gripas/UPI | License Photo July 2 (UPI) -- President Donald Trump on Wednesday announced a trade deal with Vietnam a day after he said a similar deal with Japan is unlikely. Trump announced on his Truth Social social media platform that the deal will see Vietnam pay a 20% tariff on "any and all goods" imported to the United States, while the United States will be granted tariff-free trade with Vietnamese markets. "In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that we will be able to sell our product into Vietnam at ZERO tariff," Trump wrote. "It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States will be a wonderful addition to the various product lines within Vietnam." Under the deal, Vietnam will also pay a 40% tariff on goods that are transshipped, meaning they originated in another country and were then sent to Japan before being ultimately shipped to the United States. Trump credited the deal as the result of a meeting with To Lam, general secretary of the Vietnamese Communist Party. "Dealing with General Secretary To lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!" Trump wrote. The deal comes after Trump said Tuesday that trade negotiations with Japan aren't going well and called the country "spoiled." "We've dealt with Japan. I'm not sure if we're gonna make a deal, I doubt it, with Japan," he told reporters on Air Force One on Tuesday. "They and others are so spoiled from having ripped us off for 30, 40 years that it's really hard for them to make a deal." The 90-day pause on tariffs ends July 9. Trade partners are scrambling to get trade deals with the U.S. Japan's tariff rate was 24% beginning April 2, when Trump launched his tariff assault. On social media Monday, Trump said Japan refuses to buy American rice, despite a shortage in the country. "They won't take our RICE, and yet they have a massive rice shortage. In other words, we'll just be sending them a letter, and we love having them as a Trading Partner for many years to come," he said in a post on Truth Social. Japan bought $298 million of rice from the United States last year, according to the U.S. Census Bureau. This year, Japan has spent $114 million on American rice. He said it again on Tuesday, adding a claim about auto imports. "They need rice so badly, but they won't take rice," he said. "We didn't give them one car in 10 years." But Japan imported 16,707 units of American vehicles last year, according to the Japan Automobile Importers Association.. Both sides vowed to continue talks. "We dealt with Japan. I'm not sure if we're going to make a deal. I doubt it with Japan - they're very tough. You have to understand, they're spoiled. I love Japan. I really like the new prime minister, too. Abe was one of my closest friends, as you know," he said on Tuesday. Former Japanese prime minister Shinzo Abe died in 2022. Japan's Deputy Chief Cabinet Secretary Kazuhiko Aoki said, "Japan will continue to engage vigorously in sincere and honest discussions toward the realization of an agreement that will benefit both Japan and the United States." Prime Minister Shigeru Ishiba and Ryosei Akazawa, his close aide and Japan's top tariff negotiator, stressed that the government will not rush a deal at the expense of the country's interests. They emphasized protecting the agricultural sector. Trump said if talks break down: "What I'm going to do is, I'll write them a letter to say, 'We thank you very much, and we know you can't do the kind of things that we need, and therefore you pay a 30%, 35% or whatever the number is that we determine,'" Trump said.
The Hill
8 minutes ago
- The Hill
NewsNation now basic cable's fastest-growing channel
Just months after marking its 4-year anniversary, viewers have made NewsNation the fastest-growing channel among basic cable networks, according to Nielsen, which tracks ratings across the television industry. According to Nielsen, NewsNation grew nearly 50 percent among total day viewers and 67 percent among adults aged 25-54, ranking #1 among all 112 ad-supported cable networks in year-over-year growth. The milestone comes just one year after expanding its news programming to 24/7. 'NewsNation set out to offer an alternative to the polarized cable news landscape, and we are extremely gratified that viewers are validating our approach,' said Sean Compton, President of Nexstar's Networks Division. 'As we continue to grow, we remain committed to earning viewers' trust each and every day.' Nielsen data shows NewsNation saw a 24 percent gain in primetime total viewers compared to June of last year. The network's daytime programming also saw significant viewership gains, with each program from 6 a.m. to 7 p.m. ET experiencing triple-digit growth among viewers aged 25-54. Propelled by viewers seeking fact-based coverage of the stories of our day, including the Israel-Iran war, U.S. intervention in the Middle East, anti-ICE protests on the streets of Los Angeles, and the debate over President Donald Trump's budget bill, every program also was up double-digit percentages in total viewers. The NewsNation app (available for download on Apple and Android devices) is also rapidly growing, with a 230% increase in visits in the past year. Here's just how much each NewsNation weekday show increased in just the past year, according to Nielsen: In Prime Time, CUOMO continues to rank as NewsNation's top-rated show. Since last year, the program has increased its viewership by 30 percent. At 7 p.m. ET, Elizabeth Vargas Reports saw 18 percent growth overall and a 22 percent increase in the 25-54 younger demographic, while On Balance with Leland Vittert (weeknights, 9 p.m. ET) was up 11 percent in total viewers.
Newsweek
8 minutes ago
- Newsweek
Musk Suffers New Blow as Tesla Sales Drop for Second Quarter
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Elon Musk's Tesla reported another decline in deliveries in the second quarter, deepening the electric vehicle company's slump after a slower start to the year. Newsweek reached out to Tesla's press team via email for comment. Why It Matters Musk, once a vocal supporter and informal adviser to President Donald Trump, has stepped away from his government role leading the cost-cutting Department of Government Efficiency (DOGE) and returned to focus on his companies, including Tesla. Musk and Trump's public split and fallout included character jabs as well as policy disagreements, including Trump's prized "big, beautiful" bill, which seeks to make the 2017 tax cuts permanent while cutting Medicaid funding and ending electric vehicle tax credits. Musk enjoys numerous lucrative contracts with the government across companies, including SpaceX, which Trump has threatened to revoke. The drop in sales and deliveries may signal an extended consumer backlash against the Tesla brand. Protests and vandalism targeting Tesla, which began in response to Musk's time in the Trump administration, have continued since his departure. What To Know On Wednesday, Tesla reported its second-quarter production and delivery figures, producing 410,244 vehicles, primarily Model 3 and Model Y cars, and delivering 384,122. Deliveries are considered a proxy for sales. The figures are about 14 percent lower than in the second quarter of 2024, when Tesla produced 410,831 vehicles and delivered 443,956. The second-quarter findings are also lower than those of the first quarter of 2025, which reported 362,615 vehicles produced and 336,681 deliveries, representing a decline of approximately 13 percent from the first quarter of 2024. The first-quarter slump coincided with Musk's formal affiliation with the president and his appointment to the DOGE position. A Tesla car recharges at a Tesla charging station in Charlotte, North Carolina, on June 24, 2017. A Tesla car recharges at a Tesla charging station in Charlotte, North Carolina, on June 24, 2017. AP Photo/Chuck Burton This quarter, production and deliveries increased from the first quarter but remained below the levels of a year earlier. The numbers represent a longer three-year decline in sales. In Europe, Tesla sales have dropped notably, with the company selling 8,729 vehicles in the European Union last month, a 40.5 percent decrease from the 14,682 sold in May 2024, according to data released on Wednesday by the European Automobile Manufacturers Association. Musk has also been pursuing a political agenda in Europe, with recent interventions in the German election and British politics. The electric vehicle market has become increasingly saturated since Tesla's inception, with numerous other manufacturers now producing hybrid electric cars, including BYD, BMW, Volkswagen, and others. In addition to its fleet, Tesla is also focusing on its robotaxi, self-driving service. What People Are Saying Tesla CEO Elon Musk, during a conference call in April, said he was "extremely optimistic about the future of the company," which will be "fundamentally based on large-scale autonomous cars and large-scale—being large volume—vast numbers of autonomous humanoid robots." Musk continued: "The value of a company that makes truly useful autonomous humanoid robots and autonomous useful vehicles at scale, at low cost—which is what Tesla is going to do—is staggering. I continue to believe that Tesla, with excellent execution, will be the most valuable company in the world by far." President Donald Trump told reporters Wednesday: "We might have to put DOGE on Elon," adding that "DOGE is the monster that might have to go back and eat Elon." What Happens Next Tesla remains one of the largest suppliers of electric vehicles in the world, but competitors have taken note of the disappointing numbers and are likely to move to secure a greater market share. On Tuesday, Trump noted that he will "have to take a look" into deporting Musk, who was born in South Africa and became a naturalized United States citizen more than two decades ago.
