U.S. President Donald Trump stated on Wednesday that he might grant China a slight reduction in tariffs in exchange for completing a deal related to the TikTok app, owned by a Chinese company.

Trump suggested extending the deadline for banning TikTok in the United States if no agreement is reached regarding the social media app.

Speaking to reporters on Wednesday, Trump said, "Regarding TikTok, China will have to play a role in this, perhaps by giving approval, and I think they will. I might give them a slight tariff reduction or something similar to get it done."

After being banned for several hours in early January, TikTok resumed operations in the United States following an executive order from Trump allowing the app to temporarily continue its services in the country.

Trump stated that the decision would extend the timeline for the TikTok ban to take effect by 90 days "so we can reach an agreement to protect our national security."

He also expressed his desire for the United States to hold a 50% ownership stake in TikTok.

The company announced that it would work with the U.S. president to "find a long-term solution that keeps TikTok in the United States."

In a post on its official account on the platform X, the company thanked Trump for "providing the clarity and reassurance needed for our service providers to know they won't face any penalties while delivering TikTok to over 170 million Americans and enabling more than 7 million small businesses to thrive."

The company described Trump's move as "a strong stance in support of the First Amendment (of the U.S. Constitution) against arbitrary censorship."