TikTok is currently developing a new version of its app for US users in anticipation of an imminent sale to a consortium of investors, according to The Information, citing anonymous sources.

TikTok plans to launch the new version in US app stores from September 5. Users will eventually have to download it if they want to continue accessing the service. The current app will remain functional until next March, although this timeline could change.

US President Donald Trump announced on Friday that he would begin talks with China early this week to try to reach an agreement on TikTok. He said the US was "very close" to a deal on the sale of the short video app's US operations.

A plan to separate TikTok's US operations into a new US-based entity, majority-owned by US investors, was in the works earlier this year. But it was put on hold after Beijing said it would oppose it in response to Donald Trump's announcements on additional tariffs on Chinese products.

The sale of TikTok's US operations has been a long-standing issue in Washington. In 2020, Donald Trump threatened to ban the app in the US for national security reasons.

In April 2024, under Joe Biden's presidency, Congress passed a law requiring TikTok to sell its US operations by January 19, 2025, or face a ban in the United States.

Upon his arrival at the White House on January 20, Donald Trump granted TikTok a first 75-day reprieve, then a second one in early April (also for 75 days). Finally, a third 90-day reprieve was granted in mid-June.

On board Air Force One on Friday, Donald Trump appeared confident: "I think we'll start on Monday or Tuesday... talking with China, maybe with President Xi or one of his representatives, but we basically have a deal." This statement was in line with the US president's usual optimism. The next few hours will tell us whether this optimism was justified.