The White House has examined a menu of options to avert a TikTok ban deadline set for Saturday. One proposal — letting TikTok’s Chinese owner lease the algorithm to a TikTok spinoff in the U.S. — would probably face resistance from China hawks in Trump’s party.

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President Donald Trump plans to announce later on Wednesday his plan for a new company called TikTok America, part of his effortsto broker a deal to keep TikTok alive in the U.S., according to a person close to the discussions.

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

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.

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

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,

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.

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