Vice President JD Vance believes that Tiktok's “high-level” purchases will be made before the law banning US social media apps comes into effect on April 5th.
“There is a high level of agreement that almost certainly meets our national security concerns. Told to NBC News Friday on ongoing negotiations to secure US buyers.
“Some of these transactions are usually much smaller and far less capital to take months to close,” he added. “We're about to close this by early April. I think the outline of this is very clear. The question is whether we can complete all the papers.”
President Trump signed the executive order on the first day, allowing 75 days of resignation from the law – passed on a bipartisan basis in Congress and signed by his predecessor.
Around 170 million Tiktok users are wary of US officials who are bringing content from a proprietary algorithm owned by Beitedan, hoovering data from US users, and potentially sharing it with the Chinese government.
In January, the U.S. Supreme Court unanimously upheld a law requiring the sale of Tiktok from its Beijing-based parent company, citing “well-supported national security concerns about Tiktok's data collection practices and its relationship with foreign enemies.”
Vance said the negotiators working on the deal “are in a place where Tiktok says it is operational and that it can be operational in a way that protects American data privacy and American national security due to the law's “early April” deadline.
Federal Communications Commissioner Brendan Kerr asked Apple and Google to remove Tiktok from the app store almost three years ago.
“Tiktok collects everything from search and browsing history to keystroke patterns and biometric identifiers such as face prints and voice prints,” the FCC reader wrote in a June 2022 letter.
A high court ruling soon led US officials, led by Vance and national security adviser Michael Waltz, reportedly Oracle, the technology company of billionaire Larry Ellison, has become a “major competitor” in recent weeks.
However, on Sunday, Trump revealed that his admin Tiktok Broker team “works four different groups” at the time of purchase.
The app's longshot bid has also been floated by Wyoming entrepreneur Lead Lasner, who provided $47.45 billion, the Post first reported.
Reddit co-founder Alexis Ohanian joined billionaire Frank McCourt in a bid speech.
The president promised to “save Tiktok” before taking office and told reporters he was willing to extend it again past the April deadline to find the right buyer.
Vance, a former venture capitalist who was elected to the US Senate in 2022 before departing for the Trump White House, told NBC he “likes to get it done without an extension.”
“The question is, what is the stock ownership of the new joint venture? How do you make contracts for all investors, customers and service providers?” he asked.
“The transaction itself becomes very clear, but it actually creates thousands of pages of legal documents. That's one of the things that bothers me.”
