President Donald Trump announced he has identified a buyer for the TikTok app, claiming support from a group of wealthy investors. This move comes as his administration extends the deadline for TikTok's sale to September 17. Although a previous deal fell through due to tensions with China, Trump is optimistic that President Xi Jinping will approve the sale, despite complex regulatory hurdles. The U.S. Congress has pushed for TikTok's divestment over security fears regarding data privacy, with criticism aimed at Trump's delay in enforcement actions since last year.
A sale of TikTok needs approval from the Chinese government, but Trump is optimistic, stating Xi Jinping 'will probably do it' in a recent interview.
Trump mentioned he has 'very wealthy people' ready to buy TikTok, suggesting that negotiations could finalize within weeks, despite past failed deals.
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