President Trump has appointed Vice President J.D. Vance to lead negotiations for the potential sale of TikTok to a U.S.-based entity before the ban extension in April. The negotiations will also involve National Security Adviser Michael Waltz. There is uncertainty over what type of arrangement ByteDance and China will agree to, with Trump suggesting a 50/50 split. U.S.-based suitors are competing to acquire the popular app, which has faced national security concerns due to its Chinese ownership.
TikTok was initially set to be banned in the U.S. on Jan. 19, but the Supreme Court upheld the ban after TikTok challenged it. Trump signed an executive order delaying enforcement for 75 days to determine the next steps. ByteDance may now be more willing to sell TikTok after exhausting all options to maintain control of the app amid increasing pressure from the U.S. government.
A number of American buyers, including YouTuber Jimmy Donaldson and billionaire Frank McCourt, are interested in acquiring TikTok. Lawmakers want the app to remain accessible to American users but divested from ByteDance for national security reasons. At present, TikTok is not available for download on Google and Apple app stores, but they will not face penalties for offering it.
Overall, negotiations for the sale of TikTok to a U.S.-based entity are ongoing, with potential buyers lining up and lawmakers emphasizing the importance of national security in the process.
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