President Donald Trump is set to review a final proposal on TikTok’s future as the deadline approaches for its Chinese owner, ByteDance, to secure a non-Chinese buyer for the app’s U.S. operations or face a ban.
According to Reuters, Vice President JD Vance, Commerce Secretary Howard Lutnick, National Security Adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard will meet in the Oval Office on Wednesday to discuss the matter.
In the high-stakes negotiations, the White House has taken on the role of an investment bank, with Vance leading the auction. Private equity firm Blackstone is reportedly considering joining ByteDance’s existing non-Chinese shareholders—Susquehanna International Group and General Atlantic—in raising capital to bid for TikTok’s U.S. business.
On Sunday, Trump stated that “a deal with ByteDance to sell the short video app used by 170 million Americans would be struck before Saturday’s deadline.”
Trump is also preparing to announce new global tariffs on Wednesday, calling it “‘liberation day.’” He previously indicated he would be open to lowering tariffs on China to facilitate a TikTok deal.
Additionally, the U.S. venture capital firm Andreessen Horowitz is in talks to invest in TikTok as part of a broader effort, led by Trump, to take control of the app, according to the Financial Times. The firm’s co-founder, Marc Andreessen, a Silicon Valley Trump supporter, is reportedly working to secure outside investments to buy out TikTok’s Chinese stakeholders. Oracle and other American investors are also involved in the effort to separate TikTok’s U.S. operations from ByteDance.
Blackstone is still evaluating whether to make a small minority investment, while discussions are centering on increasing the stakes of ByteDance’s largest non-Chinese investors to gain control of the app’s U.S. business.
Trump previously stated that his administration had been in talks with “four different groups” about a potential TikTok deal, though he did not specify which ones.
TikTok and Andreessen Horowitz have not yet responded to Reuters’ requests for comment.
