President Trump will meet with top White House officials, including Vice President JD Vance, to discuss a potential deal that could save TikTok from a U.S. ban. The plan involves a new ownership structure, potentially including Blackstone and Oracle, to address national security concerns stemming from TikTok's Chinese ownership (ByteDance).
The proposed deal's compliance with a federal law mandating minimal foreign ownership is uncertain. The law restricts ownership from so-called foreign adversary countries (including China) to no more than 20% and prohibits data-sharing agreements or collaboration on video-recommendation technology with ByteDance.
Trump previously extended deadlines for a resolution and hinted at relaxing tariffs on China in exchange for support of a TikTok deal. However, TikTok maintains it's not for sale, partly due to potential Chinese government intervention.