President Trump is set to meet with key White House officials to consider a proposal for TikTok's ownership that may ensure its continued operation in the U.S. The popular video app faces a federal deadline to change its ownership structure, due to national security concerns linked to its Chinese parent company, ByteDance. The new ownership might involve firms like Blackstone and Oracle, but legal ambiguities persist regarding foreign ownership limits. Trump is also considering relaxing tariffs on China to facilitate agreement on TikTok's future.
President Trump plans to meet with top White House officials on Wednesday to discuss a proposal that could secure TikTok's future in the United States, focused on a new ownership structure.
Lawmakers and other U.S. officials have argued that the app's ties to China raise national security concerns, and a federal law requires TikTok to change its ownership or face a ban.
The new ownership structure could include Blackstone and Oracle, but it remains unclear if such a deal would comply with legal requirements regarding foreign ownership.
Mr. Trump has suggested he might relax upcoming tariffs on China in exchange for the country's support of a deal regarding TikTok's ownership.
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