US Plans TikTok Sale Pending China Approval

President Donald Trump announced that the United States "pretty much" has a deal to sell TikTok's U.S. operations, with talks scheduled to begin early next week with China or its representatives. Trump extended the deadline for China-based ByteDance to divest its U.S. assets to September 17, aiming to address national security concerns and comply with U.S. legislation requiring the sale or ban of the app. The plan involves spinning off TikTok’s U.S. operations into a new American-owned entity, with China’s approval needed for the deal to proceed. Trump expressed cautious optimism about Beijing's agreement, citing his good relationship with Chinese President Xi Jinping and emphasizing that the deal would benefit both countries financially. A group of "very wealthy people" has reportedly agreed to purchase TikTok's U.S. operations, with details expected to be disclosed soon. This development follows several previous deadline extensions by Trump, reflecting ongoing diplomatic negotiations and regulatory pressures.