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US President Donald Trump has suggested he would be willing to cut tariffs on China in order to complete a deal for TikTok to be sold by its Chinese parent firm ByteDance.
The popular video app has until April 5 to find a buyer for its US business, otherwise it faces a ban over national security concerns.
However, Mr Trump has said he is willing to extend that deadline to allow a non-Chinese buyer to be found for the platform.
A ban on TikTok in the US had been due to come into force just before Mr Trump entered office in January, but the Biden administration said it would leave the final decision to the incoming president.
Speaking to reporters on Wednesday, Mr Trump acknowledged China will have to play a role in any agreement over TikTok’s sale, saying “maybe I’ll give them a little reduction in tariffs or something to get it done”.
The president has already placed a 20% tax on all imports from China, and on Wednesday he announced import taxes of 25% on all cars and car parts coming into the US.
TikTok is one of the most popular social media platforms in the United States, and has around 170 million users in the country.
Last week, it was reported that talks on a sale of TikTok being led by the White House were beginning to focus on a plan that would see the biggest non-Chinese backers of ByteDance increase their stakes in the platform and acquire the app’s US business.
Social media experts have previously suggested that TikTok disappearing in the US could have a substantial impact on how the app works elsewhere in the world, as a huge market of content creators are suddenly unable to post to the platform.
Such a scenario would also likely see the social media landscape shift drastically as the US market of content creators began to migrate to other apps.
The law banning TikTok if it is not sold was introduced over fears ByteDance could be required to share data with the Chinese government, and that Beijing could use the app to carry out influence operations against Americans through the platform – allegations TikTok has always denied would ever be possible.
The UK has not signalled any intention to follow the same route as the US by banning TikTok outright, but the app is banned from Government devices, although an exemption was granted last month so the UK Government could launch an official account on the platform.
The “ukgov” TikTok account includes public service messages such as urging users to renew their passport, as well as reminders of what Labour’s so-called Plan for Change entails.
At the time, Downing Street indicated a security exemption had been granted for the account, and insisted the ban on TikTok on official devices which began in 2023 is still in place.