ByteDance to sell TikTok in the US ahead of schedule

Under a law signed by former President Joe Biden in April 2024, ByteDance had until January 19 to divest TikTok or the app would be shut down in the U.S. However, upon taking office, U.S. President Donald Trump signed an executive order giving TikTok an additional 75 days, or until April 5, to find a buyer.

"There's almost certainly a high-level deal that I think would satisfy our national security concerns, allowing for an American-owned TikTok company," Vance said in an interview with The New York Times.NBC Newslast weekend

The buyer of TikTok would have to be a company based outside of China. Several US companies such as Walmart, Oracle and Microsoft have been considered as potential names.

Mr. Vance said the president asked him to negotiate the deal, and he is working on it with national security adviser Michael Waltz. Before entering politics, he was involved in the venture capital industry.

"I think whether through an extension or really just an agreement to address the national security concerns, I think we'll be able to say TikTok is operating in a way that protects the data privacy of American citizens and the national security of the United States," Vice President JD Vance said.

TikTok is currently valued at $50 billion. ByteDance has not confirmed that it is in talks with potential buyers and has also declined to say whether it would agree to sell TikTok to a US company.