President Trump plans to meet the senior White House officials on Wednesday to discuss a proposal that could ensure Tiktok’s future in the United States, according to two families familiar with plans.
Trump will examine a proposal for a new property structure for the popular video application, which belongs to the Chinese Internet giant bytedance. Legislators and other US officials have argued that bonds of application with China raise national security problems, and that a federal law that was adopted last year forces Tiktok to change its property or to face a ban in the United States. The last deadline for this ban is on Saturday.
The meeting is expected to include vice-president JD Vance, which Trump explained to find an arrangement to save the popular app in early February and other senior officials, the two people on condition of anonymity said. The new property structure, according to them, could include Blackstone, the giant of investment capital and Oracle, the technological company.
Reunion is another turn in the long national saga of Tiktok, which increased in popularity in the United States despite a lasting and deep examination in the capitals of Washington and the State. Trump, who made repeated insurance that he wanted to save the application, extended the deadline for an agreement in January and suggested that he could do so again if an appropriate plan was not reached at the beginning of the month.
Tiktok did not immediately return a comment request.
It is not clear that the type of agreement under discussion would be in accordance with the law, which does not call more than 20% of Tiktok or its parent company who belong to people or companies in foreign opponents, a list that includes China.
The law also prohibits a new entity from working with Bytedance to operate its video recommendation technology or create a data sharing agreement.
Trump suggested last week that he could relax the prices to come on China in exchange for the country’s support to an agreement.
Tiktok argued that he is not for sale, in part, said, because the Chinese government would block an agreement.
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