Trump to review potential deals for TikTok on Wednesday

WASHINGTON - President Donald Trump is planning a high-level meeting Wednesday to discuss the future of TikTok in the U.S., with a nationwide ban potentially just days away. The social media giant faces an April 5 deadline to be sold or shut down, per a national security law that took effect in January.

Trump extended the original timeline with a 75-day reprieve, but he’s made clear that any further extension will depend on whether a deal comes together — and who’s behind it.

TikTok’s future under review

What's next:

The meeting, expected to take place in the Oval Office, will include Vice President JD Vance, Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard. A person familiar with the matter, speaking on condition of anonymity, confirmed the meeting to the Associated Press.

CBS News first reported the gathering, which could determine if TikTok continues to operate in the U.S. under new ownership — or faces a shutdown.

Trump said over the weekend that he wants TikTok "to remain alive" and credited the app with helping him gain support from young voters in the 2024 election.

Who might buy TikTok

The other side:

Several buyers have reportedly expressed interest in TikTok’s U.S. operations. They include:

• Oracle and Blackstone, previously involved in a failed acquisition effort during Trump’s first term.
• Perplexity AI, which pitched a merger proposal earlier this year.
• A consortium led by Frank McCourt, which includes Reddit co-founder Alexis Ohanian and plans to incorporate blockchain technology to give users more control over their data.
• Employer.com founder Jesse Tinsley, who says his group has offered more than $30 billion.
• Former Treasury Secretary Steve Mnuchin, Microsoft, and Rumble, the conservative video-sharing platform, have also expressed interest.

The deadline and the stakes

Dig deeper:

If a sale isn’t finalized by April 5, the original law would kick in, reinstating a nationwide ban on TikTok. However, Trump has suggested he may extend the deadline again if negotiations are progressing.

A smartphone displays the TikTok logo in front of a screen showing former President Donald Trump. The Trump administration is considering a potential sale of TikTok to avoid a nationwide ban tied to national security concerns. (Photo Illustration by Jaap Arriens/NurPhoto via Getty Images)

The ban law was upheld unanimously by the Supreme Court earlier this year. TikTok briefly went dark for U.S. users before Trump issued the temporary reprieve.

ByteDance, TikTok’s China-based parent company, has not publicly stated whether it’s willing to sell the platform, though previously it said it had no intention of doing so.

Big picture view:

TikTok remains one of the most popular social platforms in the U.S., with over 150 million users. Its fate is tied not only to national security concerns but also to broader questions about U.S.-China relations, digital privacy, and political influence.

A sale could preserve access to the platform while potentially addressing concerns about how user data is handled and whether foreign governments can influence content.