Any deal, however, would need approval from the Chinese government, which is also still wrangling with the Trump administration over tariffs. The outlet reports that the Trump administration says it’s close to working out a sale to a group of “non-Chinese” investors,

Social media giant TikTok will launch a new version of its popular app to Apple's and Google's app stores on September 5, as part of an agreement to sell its US business looms.

TikTok is building a new version of its app for users in the United States ahead of a planned sale of the app to a group of investors, The Information reported on Sunday, citing unnamed sources. This comes as U.