Trump says he would consider reducing China tariffs if there's a deal on TikTok

But earlier this month, Vice President JD Vance said he was hopeful a deal to keep TikTok operating in the U.S. will be wrapped up by the early April deadline. NBC News reported that Vance did not offer details on who the potential buyers could be but noted that some issues could push a final agreement past the deadline.

“We’d like to get it done without the extension,” Vance told the news outlet. “I think the question is, what is the equity ownership of the new joint venture? How do you do the contracts for all the investors, the customers, the service providers? … The deal itself will be very clear, but actually creating those thousands and thousands of pages of legal documents, that’s the one thing that I worry could slip.”

TikTok and ByteDance have not publicly commented on the talks. It’s also unclear if ByteDance has changed its position on selling TikTok, which it said early last year it does not plan to do.

If TikTok is not sold to an approved buyer by April 5, the original law that bans it nationwide would once again go into effect. However, the deadline for the executive order doesn’t appear to be set in stone and the president has reiterated it could be extended further if needed.

Trump’s order came a few days after the Supreme Court unanimously upheld a federal law that required ByteDance to divest or be banned in January. The day after the ruling, TikTok went dark for U.S. users and came back online after Trump vowed to stall the ban.

During his first term, Trump tried to ban TikTok on national security grounds, which was halted by the courts before his administration negotiated a sale of the platform that eventually failed to materialize. He changed his position on the popular app during last year’s presidential election and has credited the platform with helping him win more young voters.

The decision to keep TikTok alive through an executive order has received some scrutiny, but it has not faced a legal challenge in court.

Although it’s unclear if ByteDance plans to sell TikTok, several potential bidders have come forward in the past few months.

Aides for Vance, who was tapped to oversee a potential deal, have reached out to some parties, such as the artificial intelligence startup Perplexity AI, to get additional details about their bids, according to a person familiar with the matter. In January, Perplexity AI presented ByteDance with a merger proposal that would combine Perplexity’s business with TikTok’s U.S. operation.

Other potential bidders include a consortium organized by billionaire businessman Frank McCourt, which recently recruited Reddit co-founder Alexis Ohanian as a strategic advisor. Investors in the consortium say they’ve offered ByteDance $20 billion in cash for TikTok’s U.S. platform. And if successful, they plan to redesign the popular app with blockchain technology they say will provide users with more control over their online data.

Jesse Tinsley, the founder of the payroll firm Employer.com, says he too has organized a consortium, which includes the CEO of the video game platform Roblox, and is offering ByteDance more than $30 billion for TikTok.

Trump said in January that Microsoft was also eyeing the popular app. Other interested parties include Trump’s former Treasury secretary Steve Mnuchin and Rumble, the video site popular with some conservatives and far-right groups. In a post on X last March, Rumble said it was ready to join a consortium of parties interested in purchasing TikTok and serving as a tech partner for the company.

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Associated Press writer Chris Megerian contributed to this report.