On Friday, Vice President JD Vance said that a deal to keep TikTok operating in the U.S. under American ownership is close to being finalized ahead of the April 5 deadline.
What Happened: In an interview with NBC News aboard Air Force Two, Vance expressed optimism that a framework to create "a distinct American TikTok enterprise" will be in place, even if all the legal paperwork isn't completed by the deadline.
"There will almost certainly be a high-level agreement that I think satisfies our national security concerns," he said.
"The deal itself will be very clear, but actually creating those thousands and thousands of pages of legal documents, that's the one thing that I worry could slip," Vance added.
Why It's Important: The Joe Biden-era law requires TikTok's Chinese parent company, ByteDance, to sell the app to a U.S. buyer or face a nationwide ban.
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President Donald Trump, who issued a 75-day delay on enforcing the ban upon taking office, tasked Vance and national security adviser Michael Waltz with facilitating the deal.
ByteDance has not confirmed any negotiations publicly, but several high-profile U.S. bidders, including Reddit co-founder Alexis Ohanian and entrepreneur Reid Rasner, have expressed interest.
Previously, it was reported that discussions surrounding the sale of TikTok’s U.S. operations had reached a standstill with ByteDance stalling negotiations as it awaited approval from Beijing.
China has reportedly taken a firm stance on the matter and may prefer allowing TikTok's U.S. branch to shut down rather than consenting to a sale unless Washington agrees to broader trade and technology concessions.
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