US Secretary of Commerce Howard Lutnick said TikTok’s US operations must transition from Chinese to American ownership.
Speaking on Fox News on Sunday, Lutnick said: “The President really likes TikTok, and he said it over and over again, because, you know, it was a good way to communicate with young people.”
“But let’s face it, you can’t have the Chinese have an app on 100 million American phones, that is just not okay. So, it’s got to move to American ownership, it’s got to move to American technology, American algorithms,” he said.
Lutnick added: “I know the President is positive towards TikTok, if it can move into American hands.”
Earlier on Thursday (July 24), Lutnick said in an interview with CNBC’s Squawk on the Street that if China doesn’t approve a deal for TikTok US’s sale, “then TikTok is going to go dark.”
Lutnick said: “We’ve made the decision. You can’t have Chinese control and have something on 100 million American phones.”
He added: “Basically, Americans will have control. Americans will own the technology. Americans will control the algorithm. That’s something Donald Trump is willing to do.”
“Let’s face it, you can’t have the Chinese have an app on 100 million American phones, that is just not okay. So, it’s got to move to American ownership, it’s got to move to American technology, American algorithms.”
Howard Lutnick, US Secretary of Commerce
In response to his statement, Guo Jiakun, a spokesperson of Chinese Foreign Ministry, on Friday (July 25) said: “We have stated our principled position on TikTok on multiple occasions.”
At a press briefing in April, Lin Jian, another Foreign Ministry spokesperson, said, “China will handle the relevant issue per China’s laws and regulations. The US needs to provide an open, fair, just and non-discriminatory environment for Chinese businesses in the country.”
The sale of TikTok’s US operations has hit setbacks in recent weeks. Private equity firm Blackstone recently pulled out of the investor consortium looking to buy the business, Reuters reported, citing a source familiar with the matter.
Blackstone had reportedly been slated to take a minority stake in the platform’s US business alongside other consortium members.
“Basically, Americans will have control. Americans will own the technology. Americans will control the algorithm. That’s something Donald Trump is willing to do.”
Howard Lutnick, US Secretary of Commerce
Trump announced in late June that he had identified buyers for TikTok’s US operations, describing them as “a group of very wealthy people” during a Fox News interview. He suggested the deal would require approval from Chinese President Xi Jinping.
Bloomberg reported that Trump’s referenced buyers include the existing consortium of Oracle, Blackstone, and venture capital firm Andreessen Horowitz. Those negotiations had previously stalled after Beijing withheld approval following Trump’s sweeping tariffs on Chinese goods.
The Blackstone consortium had reportedly negotiated a structure that would give outside investors 50% of TikTok’s US business while reducing ByteDance’s stake to below 20%.
Reuters had reported that Oracle remains expected to acquire a stake if a deal proceeds.
A deal for the sale of TikTok’s US operations follows legislation in April 2024 requiring ByteDance to sell TikTok or shut down its US operations by January 19, 2025. President Donald Trump has since extended that deadline three times, with the current deadline set for September 17.
TikTok has over 170 million users in the US, according to recent data. In the first quarter of 2025, the company generated $43 billion in revenue, surpassing that of Meta, Reuters reported recently.
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