Vice President J.D. Vance expressed confidence Friday that a deal to transfer TikTok's U.S. operations to American ownership would be largely in place by the April 5 deadline set by the Trump administration. The announcement comes amid growing speculation over potential buyers and concerns over national security risks associated with the app's Chinese parent company, ByteDance.
"There will almost certainly be a high-level agreement that I think satisfies our national security concerns [and] allows there to be a distinct American TikTok enterprise," Vance said in an interview with NBC News aboard Air Force Two.
The sale of TikTok has been a key priority for the administration since January, when President Donald Trump signed an executive order giving ByteDance 75 days to divest its stake in the platform or face a U.S. ban. The order effectively reinstated a policy from the Biden administration that had also sought to force a sale over national security concerns.
Trump, speaking aboard Air Force One on Sunday, reiterated his desire to finalize a deal quickly. The administration was "dealing with four different groups," he said, without identifying the potential buyers. The president added that while he hoped the transaction could be completed by the deadline, he was open to an extension if necessary.
Commerce Secretary Howard Lutnick emphasized Trump's preference for adhering to the original timeline. "He doesn't like to ask for extensions, because he is the best businessman who has ever sat behind that desk, and he knows how to do things," Lutnick said in an interview on Fox Business Network. "He is going to try to get it done in the time frame that he has."
Vance, a former venture capitalist, acknowledged that completing the transaction by early April would be an ambitious goal. "Typically, some of these deals that are much smaller and involve much less capital take months to close," he said. "We're trying to close this thing by early April."
The key issues, according to Vance, include determining the equity ownership structure of the new TikTok entity, as well as finalizing contracts with investors, customers, and 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," he said.
ByteDance has not confirmed its willingness to sell TikTok, nor has it publicly disclosed negotiations with potential U.S. buyers. However, multiple entities have emerged as contenders. Wyoming businessman Reid Rasner, CEO of Omnivest Financial, recently announced an offer of $47.45 billion for the platform. Meanwhile, former Los Angeles Dodgers owner Frank McCourt and Reddit co-founder Alexis Ohanian have also expressed interest.
Oracle has been reported as a potential buyer or technology partner, a role it nearly assumed in 2020 under a previous TikTok divestment plan. Other bidders include YouTube personality MrBeast and "Shark Tank" investor Kevin O'Leary.
Trump has acknowledged that China will play a role in approving any deal. "We have a lot of interest in TikTok. China is going to play a role, so hopefully China will approve of the deal," he told reporters last week.
