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U.S. President Donald Trump is expected to review a final proposal regarding TikTok on Wednesday, just days ahead of the April 5 deadline for the popular app to find a non-Chinese buyer or face a ban in the U.S. due to national security concerns. According to a White House official, an Oval Office meeting will include Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
Private equity giant Blackstone (NYSE:BX) is reportedly considering a minority investment in TikTok’s U.S. operations, potentially joining existing non-Chinese stakeholders such as Susquehanna International Group and General Atlantic. This group is preparing a joint bid to carve out the short video app’s U.S. business from parent company ByteDance.
Trump stated on Sunday that a deal would be reached before the April 5 deadline. Under a 2024 law, TikTok must divest from Chinese ownership or face a ban in the U.S., where it serves over 170 million users.
Andreessen Horowitz, a prominent U.S. venture capital firm, is also in talks to invest in the app. Co-founder Marc Andreessen, a known Trump supporter, is reportedly working with Oracle (NYSE:ORCL) and other American investors to lead the bid and buy out TikTok’s Chinese shareholders.
The Biden-era national security concerns over TikTok’s Chinese ties have shifted to Trump’s camp, with the White House now actively coordinating the potential deal. Trump recently mentioned discussions with four different groups about acquiring TikTok, though he did not name them.
As the April 5 deadline looms, pressure mounts on all parties involved to finalize a deal and avoid a nationwide ban on one of the world’s most used social platforms.
