Trump: We have reached an agreement to acquire TikTok

US President Trump answered questions from the press about current events as he left the White House for his official visit to the UK.

Trump announced that they have reached the end of the process regarding the acquisition of the China-based social media platform TikTok by US companies, saying, "We have reached an agreement on TikTok. We made an agreement with China. I will meet with Chinese President Xi on Friday and make everything clear. We have made a good agreement, and I hope it will be good for both countries."

"WE WILL ANNOUNCE THE BUYERS SOON"

Stating that he will meet with Chinese President Xi Jinping on Friday, September 19 and that the TikTok deal will be finalized, Trump said, "There is a group of large companies that want to buy TikTok, we will announce the buyers soon."

US Treasury Secretary Scott Bessent stated that they had reached a framework agreement with China on TikTok and that this would need to be approved by US President Donald Trump and Chinese President Xi Jinping.

TikTok ban in the USA

The US House of Representatives overwhelmingly approved the "Protecting Americans from Foreign Hostile Controlled Applications Act" in a vote held on March 13, 2024. The bill, which also passed the US Senate, took effect on April 24, 2024, with the signature of then-President Joe Biden.

The law, which paves the way for the ban on TikTok on the grounds that it "poses a national security threat," stipulates that its parent company, ByteDance, must transfer the platform to a US company, or the app will be banned in the US.

The US Congress' decision to ban the app nationwide if ByteDance did not transfer its controlling stake by January 19 was also approved by the US Supreme Court, but the new President Donald Trump, who took office on January 20, extended the deadline three times with presidential decrees.