Former President Donald Trump is scheduled to meet with Vice President JD Vance and a number of advisers on Wednesday to talk about a proposal concerning TikTok, as the deadline approaches for keeping the social media platform operational in the U.S., according to two individuals familiar with the situation who spoke to NBC News.
Among the expected participants in the Oval Office meeting are Commerce Secretary Howard Lutnick, Director of National Intelligence Tulsi Gabbard, and national security adviser Michael Waltz, as mentioned by one of the sources.
CBS News was the first to report on the planned meeting. White House spokespersons did not respond immediately to questions seeking further information.
The future of TikTok in the U.S. has been uncertain since last year when then-President Joe Biden enacted bipartisan legislation that required the app’s Chinese parent company, ByteDance, to either sell the application to a non-Chinese entity or face a national ban. No resolution has been reached, and Trump extended the deadline through an executive order on his first day in office, effectively allowing TikTok until Saturday to devise a plan to remain operational. Trump appointed Vance and Waltz to oversee this potential deal.
In a recent interview with NBC News, Vance expressed optimism about presenting a viable proposal before the impending deadline.
“It’s highly likely we’ll reach a high-level agreement that addresses our national security concerns while establishing a distinct American TikTok entity,” Vance stated.
Speculations regarding potential purchasers for the app, which boasts millions of users and has been estimated to be worth as much as $50 billion, have proliferated over the past few months. However, few details have been publicly disclosed.
Wyoming entrepreneur Reid Rasner, CEO of the wealth management firm Omnivest Financial, disclosed to NBC News last month that he proposed $47.45 billion for the app. Other hopeful bidders have emerged, including Reddit co-founder Alexis Ohanian, who recently revealed he joined a bidding group with businessman Frank McCourt.
While speaking to reporters aboard Air Force One on Sunday, Trump noted that there are “numerous potential buyers” interested in TikTok.
“Interest in TikTok is immense,” Trump commented. “Ultimately, the decision will rest with me. … We have an excellent team evaluating bids. There are many parties interested in purchasing TikTok. We are also in discussions with China regarding this matter, as they may have an influence.”
Elyse Perlmutter-Gumbiner contributed.
