Commerce secretary says Trump wants TikTok deal done under current deadline
Commerce Secretary Howard Lutnick on Friday said President Trump would like to hammer out a deal on TikTok's future ownership under the current deadline, saying the president "doesn't like to ask for extensions."
"So, it's in Donald Trump's hands. He is going to make the decision how he wants to play it," Lutnick said in an interview on Fox Business Network’s "Mornings with Maria." "And you know Donald Trump. He wants to do it in the timeframe that he was given."
"He doesn't like to ask for extensions, because he is the best businessman who has ever sat behind that desk and he knows how to do things," Lutnick continued. "He is going to try to get it done in the timeframe that he has. So, that's number one."
Lutnick's comments come just weeks ahead of the April 5 deadline requiring TikTok's China-based parent company ByteDance to divest from the popular video-sharing app or face a possible ban in the United States.
The deadline was set in Trump's executive order in January, which gave ByteDance 75 days to divest from the U.S. arm of TikTok amid national security concerns.
The law banning TikTok initially went into effect on Jan. 19 — the day before Trump was sworn into his second term — causing the platform to go dark for a few hours.
The platform was swiftly brought back online after Trump pledged to issue an executive order once back in office to give the company an extension.
Lutnick said there was no gaurantee that Trump would broker a deal by April 5.
"He is going to try his best. He doesn't control everything, but he is going to try his best," he said.
Trump said last week he will "probably" extend the deadline if a deal isn't reached in time.
“We have a lot of interest in TikTok. China is going to play a role, so hopefully China will approve of the deal,” Trump told reporters at the time. “But they’re going to play a role.”
“But we have a lot of interest in TikTok,” the president reiterated.
Lutnick was also asked about Trump's plans to create a sovereign wealth fund, which he once suggested could be used to purchase TikTok.
The commerce secretary did not offer many details, but said it will "make a ton of money and not take risk."
Numerous buyers have expressed interest in purchasing the U.S. arm of TikTok. The list includes bids from YouTube star MrBeast and a joint proposal from former Los Angeles Dodgers owner Frank McCourt and “Shark Tank” star and investor Kevin O’Leary.
The Information reported on Thursday that Oracle is also a leading contender to help run TikTok.
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