President Trump is reportedly set to consider a final proposal for a TikTok deal on Wednesday ahead of Saturday’s deadline – as another report claimed Andreesen Horowitz has joined negotiations to buy out the video-sharing app’s Chinese investors.
Top Trump administration officials are set to hold an Oval Office meeting with the president with finalized details on their plan, CBS News reported, citing sources familiar with the situation.
The meeting’s attendees will reportedly include Vice President JD Vance, who has been running point on the negotiations, as well as Commerce Secretary Howard Lutnick, national security adviser Mike Waltz, and Director of National Intelligence Tulsi Gabbard.
Trump has until Saturday to find an acceptable buyer for TikTok after issuing an executive order delaying enforcement of a federal law that banned the app unless China-based parent company ByteDance divested.
He could also opt to extend the deadline again.
A separate report by the Financial Times said tech-focused venture capital firm Andreesen Horowitz is in talks to buy a stake in TikTok as part of a proposed deal to spin off the app’s US operations.
Andreesen Horowitz, led by President Trump ally Marc Andreessen, would partner with a group of ByteDance’s existing US investors – Susquehanna, KKR, General Atlantic and Coatue – who are seeking to acquire larger stakes in the spun-off version of the company, according to the FT, which cited people familiar with the matter.
The group, which also includes Larry Ellison’s Oracle, is considered the frontrunner to buy TikTok, as The Post’s Charles Gasparino reported.
Representatives for Andreessen Horowitz declined comment. TikTok and the White House did not immediately return a request for comment.
Congress initially took action over fears that TikTok’s Chinese ownership was a national security risk.
According to the FT, Andreessen Horowitz was approached about a potential investment by “TikTok’s advisers and the White House” and is “strongly considering making an investment.”
Other asset management firms, including Blackstone Group, have also reportedly been approached about making investments.
The law passed by Congress required ByteDance to completely divest its stake in TikTok or face a total ban in the US. A buyout of Chinese investors could help the Trump administration sell Congress on backing the deal.
The feds have said that Beijing can manipulate TikTok’s recommendation algorithm to sway public opinion among its more than 170 million American users and improperly access data to spy on Americans, among other allegations. TikTok has denied wrongdoing.
Sen. Tom Cotton (R-Ark.), who chairs the Senate Intel Committee, has pushed for total divestment by China and expressed concerns about ByteDance remaining involved.
However, any sale of TikTok would have to be approved by the Chinese government, and some reports have suggested that ByteDance could retain a minority stake in TikTok even after a potential deal.
Earlier this week, Trump told reporters that his team would announce terms on a TikTok deal before Saturday’s deadline.
“We have a lot of potential buyers. There’s tremendous interest in TikTok,” Trump told reporters late Sunday, according to Reuters. “The decision is going to be my decision, as you know, through Congress. They’ve given me the power to make the decision.”
“I’d like to see TikTok remain alive,” Trump added.
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