President Trump will meet with Top White House officials on Wednesday to discuss proposals that will ensure Tiktok's future in the United States, the two familiar with the plan said.
Trump will consider proposing a new ownership structure for a popular video app owned by China's internet giant scenario. Lawmakers and other US officials have argued that app relations with China raise national security concerns, and federal law passed last year requires Tiktok to change its ownership or face a US ban. The latest deadline for that ban is Saturday.
The meeting was told by Vice President JD Vance, whom Trump tapped in early February to find an arrangement to save popular apps, and two others anonymously. They said the new ownership structure could include private equity giant Blackstone and tech company Oracle.
The conference is another twist in Tiktok's long national saga, which has surged in popularity in the US despite sustained and deep scrutiny in Washington and the state's capital. Trump, who has repeatedly guaranteed he wants to save the app, extended the deadline for the transaction in January and suggested that he might do so again if he fails to reach the right plans by the beginning of this month.
Tiktok did not immediately return a request for comment.
It is not clear that the kind of deal under discussion will comply with the law. The law requires less than 20% of Tiktok or its parent company to be owned by people or businesses in so-called foreign enemy countries, a list that includes China.
The law also prohibits new entities from working with bytedance to operate video-recommended technologies or create data sharing agreements.
Last week, Trump proposed that he might ease tariffs in China in exchange for support for the country's deal.
Tiktok claims it is not planned to be sold as the Chinese government blocks the deal.
