O’Leary Ventures chairman Kevin O’Leary and Koren CEO John Catsimatidis joined ‘Mornings with Maria’ to discuss the latest news about the American ban on Tiktok and how Trump’s executive orders can influence the economy.
President Trump said that the United States has ‘almost’ reached a deal for a company to acquire Tiktok’s American assets and is planning to start China this week with China.
“I think we will start Monday or Tuesday … talk to China, maybe President Xi or one of his representatives, but we would have almost a deal,” Trump said reporters on Air Force One on the way to his house in Bedminster, New Jersey, Friday.
The deal should probably be approved by China, Trump said, adding that he believes that the agreement would benefit both countries.
President Trump extends the deadline of the tap ban by another 90 days
President Donald Trump said that the United States has ‘almost’ reached a deal for an American company to buy the American assets from Tiktok and is planning to start China this week with China. (Reuters/Dado Ruvic/File Photo/Reuters)
“President Xi and I have a great relationship, and I think it’s good for them,” he said. “I think the deal is good for China, and it’s good for us.”
‘Tiktok is back’: Trump teases the future of social media app
“By the way, we have a buyer for Tiktok,” said Trump. “I think I probably need China’s approval. I think President Xi will probably do it.”
President Donald Trump speaks with reporters on board Air Force One after leaving joint Basic Andrews, Md., On the way to Bedminster, NJ, July 4, 2025. (Brendan Smialowski / AFP via Getty Images / Getty images)
Last month, Trump extended for the third time the deadline for Bytedance, the Chinese company that Tiktok has developed to divest American assets of the app to share videos. Bytedance has until 17 September to find an American buyer, according to Reuters.
Apple and Google Restore option to download the Tiktok -app
Earlier this year, the US came close to concluding a deal with Chinese Tiktok to spin its American activities in a new company owned by American investors, but the Chinese government said it did not approve, referring to the rates of the Trump government, according to a report.
Chinese President Xi Jinping and US President Donald Trump attend a hospitable ceremony on November 9, 2017 in Beijing, China. (Thomas Peter/Pool/Getty Images/Getty -Images)
Tiktok, which has around 170 million active monthly users in the US, had to stop operating earlier by January 19. Trump signed an executive order when the Deadline for Tiktok expanded for 90 days. A second extension was issued in April and a third party was signed in June.
The protective Americans of the Foreign Opponent Control Applications Act, adopted by the congress in April 2024 with broad two-part support, gave Tiktok nine months to separate from Bytedance or be removed from the American app stores and hosting services.
When taking the law, the congress mentioned the concern about the Chinese ownership of the app, of which members said that the app had the potential to be armed or used to collect huge amounts of user data.
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