Trump Says TikTok Deal Expected Before April 5, Blackstone Joins Race

President Donald Trump said a deal for TikTok's Chinese owner, ByteDance, to sell the app's U.S. unit is likely before the April 5 deadline, avoiding a potential ban in the country.

In January, Trump set an April 5 deadline for TikTok, used by 170 million Americans, to secure a non-Chinese buyer or face a U.S. ban due to national security concerns under a 2024 law.

Speaking on Air Force One late Sunday, Trump said there are many potential buyers and strong interest in TikTok. "We have a lot of potential buyers," Trump said, Reuters reported. "There's tremendous interest in TikTok. I'd like to see TikTok remain alive."

Blackstone Joins Bid for TikTok as U.S. Pushes for Non-Chinese Ownership

Blackstone is in talks to join ByteDance's existing non-Chinese investors, including Susquehanna International Group and General Atlantic, to fund a bid for TikTok's U.S. business. This group is currently the leading contender.

The U.S. government argues that ByteDance's ownership of TikTok makes it vulnerable to Chinese influence, potentially allowing Beijing to collect American user data or spread misinformation.

Trump previously said he might extend the April deadline if a deal is not finalized. Last week, he acknowledged China's role in approving the sale and suggested he might offer a slight reduction in tariffs to help secure an agreement.

TikTok Ownership Deal Expected by April 5, Says Vice President JD Vance

Vice President JD Vance said he expects a general agreement on TikTok's ownership to be finalized by April 5. The app, used by nearly half of all Americans, has faced uncertainty since a 2024 law required ByteDance to sell TikTok by Jan. 19.

The law had strong bipartisan support. The White House has played an active role in the negotiations, closely overseeing the deal process, similar to an investment bank.

Earlier this month, Trump announced that discussions were ongoing with four potential buyers for TikTok's United States operations, and a deal could be reached soon.

"We're dealing with four different groups, and a lot of people want it," Trump said. However, he didn't mention the names of those four potential buyers but noted that "all four are good."

Among the other potential bidders for TikTok is the AI search engine firm Perplexity.

"Perplexity is singularly positioned to rebuild the TikTok algorithm without creating a monopoly, combining world-class technical capabilities with Little Tech independence," the company wrote on its blog.

"Any acquisition by a consortium of investors could in effect keep ByteDance in control of the algorithm, while any acquisition by a competitor would likely create a monopoly in the short form video and information space. All of society benefits when content feeds are liberated from the manipulations of foreign governments and globalist monopolists."

The United States is TikTok's most important market, while its parent company, ByteDance, runs a similar app called Douyin in China. Last year, TikTok's U.S. operations were valued at up to $50 billion.