US President Donald Trump announced that the identity of the prospective buyer of TikTok’s US business will be revealed in two weeks. TikTok, currently owned by Chinese tech firm ByteDance, has faced mounting pressure in the US over national security concerns.

"We have a buyer for TikTok, by the way. I think I'll need probably China approval. I think [Chinese] President Xi [Jinping] will probably do it. I'll tell you in about two weeks, a big technology company. They are very, very wealthy people," Trump told Fox News.

The push for new ownership came as ByteDance, TikTok’s Chinese parent company, faced a looming deadline set by US legislation passed last year. The law required ByteDance to sell its TikTok operations in the US or face a ban.

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The original deadline, set for January, was extended twice by Trump, first to April and then to June 19. Trump has said another extension remains possible. He previously told NBC that he had “a little warm spot in my heart for TikTok,” acknowledging its value in reaching younger voters during the 2024 presidential campaign.

TikTok, which boasts 170 million users in the US, must find a non-Chinese buyer for its American operations or face a potential ban.

In April, the Chinese Foreign Ministry urged the US to provide an open, honest, fair, and non-discriminatory environment for Chinese companies, including ByteDance. Tensions escalated further after Trump imposed high tariffs on China, prompting ByteDance to pause its agreement with the US to spin off TikTok’s operations into a separate, US-controlled entity.

Read more: White House listed Tucker Carlson as potential TikTok investor: FT