History repeats itself, quickly it seems, as U.S. President Trump confirms that Microsoft is indeed in the running to buy TikTok.

With the clock ticking on TikTok's existence in the US, President Donald Trump claims Microsoft is interested in acquiring the social media platform.

I like bidding wars because you make your best deals,' Trump said as he spoke to reporters aboard Air Force One.

Microsoft seeking to buy TikTok from ByteDance, says President Trump, as the LinkedIn owner eyes acquiring the social media company due to national security concerns.

"Come make your product in America and we will give you among the lowest taxes of any nation on earth ... But if you don't make your product in America, which is your prerogative, then very simply you will have to pay a tariff," Trump said.

Microsoft, which declined to comment on the president’s remarks, had discussed buying TikTok in 2020, when Trump tried to force a sale of the app in his first term.

US President Donald Trump has said Microsoft is in discussions to acquire TikTok and that he would like to see a "bidding war" over the sale of the social media app.

President Donald Trump on Monday said Microsoft was in talks to acquire TikTok, shortly after the social media app went dark last week. He further suggested that he would like to see a bidding war over the popular platform.

The order was temporarily blocked by a federal judge Tuesday evening.More firings of career officials at the Justice Department unfolded on Monday and Trump signed four military executive orders, one targeting transgender service members.

President Donald Trump said Monday evening that Microsoft is among the U.S. companies looking to take control of TikTok to help the popular app avert an effective ban that could kick-in in April.

Last week, the US President said that he was engaged in discussions with multiple people about buying the app and would possibly have a decision on its future in 30 days.