AsianFin -- U.S. President Donald Trump said he has found a buyer for TikTok’s U.S. operations, but added the deal would likely require approval from Chinese President Xi Jinping

In a pre-taped interview aired Sunday on Fox News’ Sunday Morning Futures, Trump declined to name the buyer but described them as “a group of very wealthy people.” The short-form video app, owned by China-based ByteDance Ltd., has long faced scrutiny from U.S. lawmakers over national security concerns.

“We have a buyer for TikTok, by the way,” Trump said. “I think I’ll need probably China approval and I think President Xi will probably do it.”

Any potential sale would mark a major shift, given ByteDance and Beijing’s repeated opposition to divesting TikTok’s U.S. operations. The Chinese government has previously added TikTok’s recommendation algorithm to its export-control list, effectively limiting ByteDance’s ability to sell the app’s core technology without regulatory approval.

Trump’s comments came as U.S. and Chinese officials signaled progress on trade talks, affirming last week that a trade framework had been agreed upon following meetings in London. The development raises the possibility of a broader de-escalation in U.S.-China economic tensions, which could influence TikTok’s fate.

TikTok, which boasts over 170 million users in the U.S., has faced bipartisan calls for a forced sale or outright ban, citing national security risks linked to Chinese government access to user data. ByteDance has maintained that it operates independently and has taken measures to firewall U.S. user data through initiatives like Project Texas, involving U.S.-based Oracle Corp.

The Biden administration signed legislation in April requiring ByteDance to divest TikTok’s U.S. operations or face a nationwide ban, a law currently being challenged in court. The latest remarks from Trump, who first pushed for a TikTok sale in 2020, suggest the issue remains politically charged ahead of the 2024 election.