If reports are to go by, TikTok America will be 50 per cent owned by the new US investors. ByteDance will retain 19.9 per cent stake in the new company.

As the deadline to strike a deal over TikTok approaches this week, President Donald Trump has signaled that he is confident his administration can broker an agreement with ByteDance, the social media

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President Donald Trump on Wednesday is reviewing a strategy to avert a TikTok ban scheduled to take effect Saturday, in a critical political test that will force the president to weigh the interests of China hawks in his own party against the online MAGA supporters who helped deliver him the White House.

Advisers to President Donald Trump are expected Wednesday to present the president with options for a deal to invest in TikTok that involves a number of well-heeled venture capital, private equity funds and tech companies,

After TikTok was banned in the United States earlier this year, President Donald Trump gave the platform a reprieve, barreling past a law that was passed in Congress and upheld unanimously by the Supreme Court that said the ban was necessary for national security.

Trump says that the 5 April deadline for ByteDance to sell TikTok, or face a ban in the US, could be extended if needed. View on euronews

President Donald Trump has suggested he could cut tariffs on Chinese goods if Beijing allows ByteDance, the Chinese owner of TikTok, to divest the hugely popular video sharing app to avoid a ban in the US.

While the deal is still in early discussions and subject to change, it comes just days before a US-set April 5 deadline.