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Deal to buy TikTok almost done, US to start talks with China in next few days — Trump

On June 29, Trump told Fox News that a "group of very wealthy people" was ready to buy TikTok from ByteDance

WASHINGTON, July 5. /TASS/. US President Donald Trump announced that the deal to acquire the social media platform TikTok from the Chinese company ByteDance is nearly finalized, and discussions on this matter with Beijing are scheduled for July 7 or 8.

"We pretty much have a deal now. I think we are going to start talking to China on Monday or Tuesday, perhaps with President Xi Jinping or one of his representatives. We think we probably have to get it approved by China. Not definitely, but probably," the US leader told reporters aboard his plane.

On June 29, Trump told Fox News that a "group of very wealthy people" was ready to buy TikTok from ByteDance. He then noted that he would be ready to name these buyers in about two weeks.

In turn, Chinese Embassy to the US Spokesman Liu Pengyu told TASS that Beijing would follow its laws and regulations in matters concerning TikTok.

 

TikTok's operations in US

 

On June 19, Trump announced that he was extending the delay of the ban on the short video creation and viewing service in the US by 90 days, until September 17. A law requiring TikTok to be banned in the US if its parent company, ByteDance, does not sell it came into force about five months ago. Following his inauguration on January 20, Trump issued an executive order postponing the ban on TikTok in the US for at least 75 days. He also told reporters that the US should have a stake in TikTok but did not explain what that meant.

Trump has repeatedly said that he is "fond" of the platform because the votes of its young American users contributed to his 2024 presidential election victory. Liu Pengyu previously compared the situation surrounding the possible TikTok ban in the US to robbery in his comment to TASS.

In 2024, President Joe Biden signed a law requiring ByteDance to sell or cease TikTok's operations in the United States by January 19. According to media reports, the Washington administration tried to find candidates to purchase 50% of TikTok's shares.